Equitable Life's legal action against former directors has been branded "grotesque" by lawyers representing those accused of mismanaging the company into its financial hole.
The Daily Telegraph says the company is also accused of not having any arguments to back up its view the former directors are responsible. ”"For a plaintiff to open a case for two days and not address any arguments in favour of it is unusual to say the least. One would have thought someone confident of their case would have addressed the issues," the paper quotes Christopher Symons QC, acting for Equitable's former investment director David Thomas and marketing director Roger Bowley. Another defense lawyer, Peter Leaver QC, has said the case is “wholly dependent on hindsight”, and tha...
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