Hello anyone at home?
The beauty of being a "man of straw" dear James, is that you are not worth suing. Whatever the rights or wrong of this case, the first thing any lawyer will tell your complainant is that because you do not have any money it is not worth suing you. Even if you had defamed the chap, a judge can only award monetary damages there is nothing in the pot to pay him. From what I have seen so far, I am not convinced he would win any potential libel case. What I am saying is that I think it is all bluster and no substance.
James, go out and party. The wind can huff and puff and it will not blow down your house.
UPDATE: According to Crushed by Ingsoc (After writing one half of War and Peace): "I'm not going to sue".