RUTH KELLY MP and Lord Penrose, author of that all-important report into the near-collapse of Equitable Life, are up in front of the Treasury Select Committee this morning, says the Times, so policyholders will be watching closely to see whether their legal case for compensation is valid.
Kelly has ruled out government reimbursement for policyholders despite Lord Penrose's finding of regulatory failings when he published his report last Monday, as she argues compensation would only be paid if Equitable became insolvent. VICTIMS of the split capital investment trust scandal may find compensation payments are delayed even further, suggests the Times, as fund managers are seeking more time to consider the redress scheme. The problem, it seems, is legal advice given to fund managers suggests firms which get involved in the split caps compensation payout may unwittingly pre...
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