The Nine Network has confirmed it has no intention of airing House of Hancock again after “unreservedly” apologising to Gina Rinehart for the portrayal of the mining magnate and her family in the mini-series.

Rinehart sued Nine and production company Cordell Jigsaw over the two-part series for misleading and deceptive conduct after it aired in February 2015.

However, NSW Supreme Court Justice Lucy McCallum dismissed the proceedings earlier this month after the parties agreed to an out-of-court settlement, according to Fairfax.

Nine said in a statement that the network and Cordell Jigsaw accept that Rinehart found House of Hancock to be inaccurate,

“That was certainly not the intention of Nine or Cordell Jigsaw, and each unreservedly apologises to Mrs Rinehart and her family for any hurt or offence caused by the broadcast and its promotion,” it said.

“That mini-series was a drama, not a documentary, and certain matters were fictionalised for dramatic purposes.

Nine and Cordell Jigsaw accept that Mrs Rinehart had a very loving and close relationship with her mother, father and husband, and has with Hope and Ginia. They also acknowledge the significant contribution that Mrs Rinehart has made to Australia through her years of hard work and dedication and by her investment in this country, to its industry, economy and to the employment of Australians and by her longstanding support of elite sport and numerous worthwhile charities.”

Nine told B&T it has no intention to broadcast or stream House of Hancock in the future.

Hancock Prospecting, which is owned by Rinehart, said in a statement that the mining magnate was pleased to have received a public apology.

“This case was not about money. It was about Mrs Rinehart standing up for her deeply loved family members to try to stop the further spreading of unfair and grossly disgraceful falsehoods about her family, especially when certain of her family members are no longer here able to defend themselves,” the statement read.

“This matter was not just about the fundamental right of Mrs Rinehart and her family not to have lies and misrepresentations spread publicly about them, but Mrs Rinehart hopes that this matter will lead to the greater protection of others from such unfair conduct by the media and lead our politicians to activate long overdue reform in this area.”