Equitable cuts E&Y claim - papers 19 July

The difference is made up of a “lost sale” claim, by which Equitable argues its former directors lost the chance to sell the company at a better price if they had been given warning of the massive hole opening up in the accounts because of guarantees written into annuity contracts. All former directors – also collectively being sued by Equitable for £1.7bn – have stated they would not have sold the company even if they had had the information to hand. This means the case will not focus solely on claims of audit failures, the Telegraph writes. THE SCOTSMAN notes Equitable's chairman, V...