Equitable Life has dropped its case against Alan Nash, the former chief executive of the Society with both sides walking away and paying its own costs.
The Society says its case against the other 10 former directors continues. As the action by the Society is continuing against 10 former directors, it says it can make no further comment. Nash was an executive director of the Society from July 1993 to Dec 2000 and chief executive from July 1997 to December 2000. On Monday Equitable dropped its "lost sale" claim against its former directors saying: “We have taken the pragmatic decision to withdraw the lost sale claim. This will speed up the process and reduce overall costs.” The case has so far cost the Society as estimate £30m in cost...
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