Published Date:
11 October 2005
EQUITABLE Life has abandoned its negligence claim against two former directors in return for both sides paying their own legal fees.
A judge heard that the mutual life insurer had reached settlements with David Wilson and Roger Bowley.
Equitable's £1.7 billion negligence action against 11 other former directors is continuing, but sources say the society would be keen to end the lengthy court case, which has cost it £30 million.
Equitable has accused its former board of failing to act early enough to deal with financial problems, which nearly resulted in its collapse five years ago.
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Last Updated:
11 October 2005 9:36 AM
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Source:
Edinburgh Evening News
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Location:
Edinburgh
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Related Topics:
Equitable Life
