Equitable Life has announced settlement terms with two more former directors in its ongoing court case to seek damages for failures alleged to have caused the company's near-collapse in 2000.
"Equitable Life has confirmed today that it has reached settlement terms with Mr. David Wilson and Mr. Roger Bowley, two of the Society’s former directors, on the basisthat the Society discontinues its claims against them with each side paying its own costs," the company says in a statement. "The Society’s legal action against 11 former directors continues. As the action by the Society is continuing against 11 former directors, the Society can make no further comment." The announcement is the second in as many weeks, and follows a pattern with each side paying their own legal fees. ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
