Morning papers round-up, Tuesday 15 May

Equitable Life was yesterday told there is no possibility of reversing the House of Lords ruling that forced the troubled insurer to close its doors to new business, says the Times. Nicholas Warren, QC, and Thomas Lowe said in a legal opinion the decision would be impossible to challenge after policyholder action groups requested that the company investigate grounds for a legal challenge. Warren has said, however, that holders of non-GAR policies, some of whom have lost thousands of pounds as a result of the decision, could still be able to sue the life insurer for more cash. The wo...