Environment Minister  Nick Smith says he’s "delighted" a $14 million defamation lawsuit against him was settled out of court on Wednesday.

Dr. Smith says it’s been a very draining five years. The settlement involved some payment but was less than the legal costs would have been for the scheduled six week High Court hearing in Auckland.

Timber preservatives producer Osmose New Zealand alleged Dr. Smith and timber preservation scientist Robin Wakeling defamed it.

Dr Smith said that no public money was involved in the settlement, although he has received $209,000 of public money from Parliamentary Service.