Hi all, I a new user to this website but really need some good advice so I apologise for the length in advance. Ok here we go:

A manager in my business has acted erratically at our recent christmas party due to a quantity of alcohol, this consisted of several lude comments to female members of staff as well as dancing on tables (not that bad I dont think but adds to the insult perhaps), there have been unfounded accusations that this person may have said it would be funny to place something in somebody’s drink. The manager is an asset to the company and has increased turnover by 30% in this 1st annum since the start date. I feel that other managers may have it in for this individual so I really want to be careful how much is taken as word however, not all comments are from managers who disapproved of the behaviour made visible to all. I would say that at no point was it violent in anyway, nor were any comments followed up. The individual acted completely out of character and has no recollection of the entire evening- whether this is good or bad I have no idea as I have not encountered this before. What I do l know is that we all act in a way which we wish we could take back at some point in life and I believ that this is one of those instances for this particular individual.

As we are a new business and I have no experience in this I am lost and really am hoping for:
What would be the best way forward with this? And what are the legal standpoints ref: disciplinary on this particular subject? The individual has been suspended for the next 72 hours while we build our case. Any advice will be well received.
jamie munro