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.
The full article contains 111 words and appears in Edinburgh Evening News newspaper.
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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
