EQUITABLE LIFE is today set to offer a group of policyholders £2m to pursue a legal action against the Government, according to this morning's Times.
A vote is being held which could see the Equitable Members’ Action Group’s receive money from the beleaguered firm if they agree to fight as a collective. The Times says this is likely to appease member, however, as a letter composed by QCs Iain Milligan and Robert Miles - both hired by Equitable – have concluded there are no grounds for either the society or EMAG to make "a realistic claim against the regulator". THE PARLIAMENTARY Ombudsman will also face increasing pressure today from Equitable Life to re-open her inquiry into the near-collapse of the firm, says the Daily Telegraph....
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