Equitable Life Abandons Its 'Pointless' Case Against E&Y

Birmingham Post › September 23, 2005

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Summary

Equitable Life was accused of "the biggest climbdown in English legal history" after it formally abandoned its multi-million-pound High Court claim against its former auditor, Ernst & Young.

The claim was made by Mark Hapgood QC, representing Ernst & Young, after Mr Justice Langley was told by Iain Milligan QC, for Equitable, that the claim had been settled on terms that the action is discontinued and the parties bear their own costs.

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Extract

Equitable Life Abandons Its 'Pointless' Case Against E&Y

Legal experts said the total legal bill for the case, which began in April, was ex...

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