Barry O'Farrell resigns

Premier Barry O'Farrell has resigned after being caught out lying to a corruption inquiry after a handwritten note was tendered in which he thanked the head of a company linked to the Obeid family for a $3000 bottle of wine.

Barry O'Farrell has told the media "I still can't explain either the arrival of a gift that i have no recollection of or it's, eh, absence which I certainly still can't fathom.

"But I accept consequences and in an orderly way a new Liberal leader will be elected to take up the position of Premier of NSW."