Equitable Life has dropped its High Court action against Ernst & Young, the Society's former auditors.
Both sides have agreed to walk away from the case in a deal in which they will cover their own costs. Mr Justice Langley, the judge hearing the claim in the High Court, was informed this morning by Iain Milligan QC, the Society’s lead counsel, that the claim against E&Y has been settled. The claims against15 former directors of the Society continues. In a statement issued this morning Vanni Treves, chairman of Equitable Life, says: “We launched this hugely technical and complex litigation after careful deliberation, having taken expert audit and actuarial guidance and having received...
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