Settlement reached over Appleby documents

Deal struck with BBC, Guardian

An Island law firm has reached a settlement with UK media providers over their reporting of the Paradise Papers.

Millions of documents shedding light on the use of 'tax-avoidance schemes' in offshore jurisdictions were leaked or hacked from the firm, sparking a global media investigation.

A settlement involving the BBC, the Guardian and Appleby has now been struck in private, after legal proceedings were launched last December.

Details of the settlement won't be revealed, but according to a joint statement the BBC, the Guardian and Appleby have 'resolved their differences'.

The law firm had asked the outlets to hand over the documents used in investigations, and had sought damages, claiming there was 'no public interest' in any of the stories published.

Files were originally handed to German newspapers Suddeutsche Zeitung and formed part of a wider investigation from the International Consortium of Investigative Journalists (ICIJ).

The Isle of Man featured heavily in coverage of the leak, with a focus on VAT leasing arrangements for the import of luxury jets.

The BBC claims it couldn't identity the source of the material - Appleby says the information was stolen by hackers.