Irwin Mitchell, one of the two law firms involved in today's call for a legal 'stop-the-clock' agree...
Irwin Mitchell, one of the two law firms involved in today's call for a legal 'stop-the-clock' agreement with Equitable Life over the issue of mis-selling claims is urging former policyholders to take advantage of the time-out to lodge claims or risk losing out on any potential settlement.
Together with Class Law, some 500 claimants are already involved in the case that accuses Equitable Life of not telling with profits non-guaranteed annuity rate policyholders about the company's liabilities towards its guaranteed annuity rate policyholders when policies were signed between 1998-2000.
The policyholders they are working for all transferred their policies out of the company before the High Court approved a compromise scheme in February this year, so retained the legal right to challenge for compensation.
"To benefit from the standstill agreement ex-policyholders who believe they have a claim will need to register with us as soon as possible," says Michael Napier, a senior partner at Irwin Mitchell.
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