Private Eye will I'm sure be enjoying a few beers today after their great nemesis Carter-Ruck did a swift about turn of their gagging order on The Guardian newspaper.

Private Eye's most famous victory against Carter-Ruck was in 2001 when the firm took the majority of a case brought by accountant John Stuart Condliffe on a conditional fee arrangement (CFA) basis, and total legal fees have been estimated at reaching £1.75m.Condliffe's case against Private Eye concerned an article in the magazine that claimed he overcharged clients. The case was discontinued after six weeks and Private Eye was awarded £100,000.

However Carter-Ruck (Peter) was on the side of Private Eye in 1989 when a jury at the High Court in London awarded £600,000 damages to Sonia Sutcliffe, wife of the Yorkshire Ripper Peter Sutcliffe, against the satirical magazine Private Eye.

"Famous libel lawyer Peter Carter-Ruck said the award was disproportionate and called for the libel laws to be changed. He said juries should be guided by the judge on the sums they award. "

On the steps of the court he (Ian Hislop) said: "If that's justice, then I'm a banana."

He pointed out the award was 100 times larger than that awarded to three of Sutcliffe's victims.