Equitable deal sparks resignation calls

Liz Kwantes, co-ordinator of the Equitable Life Members Support Group - which is linked to the Equitable Life Members Action Group - says reactions so far suggest policyholders are “none too happy” with the estimated £30m of legal fees spent in the case against former auditor Ernst & Young. ”This has really just gone down to the lawyers’ gravy train,” she says. ”Presumably, the lawyers spent the whole summer absorbing policyholders’ money.” The worst part, she says, is policyholders will yet again feel let down by management, which told them to trust the directors in their decision...