Liability Risk and Insurance
Equitable claim thrown out
Claim by Equitable Life for damages from its former auditor Ernst & Young thrown out by High Court. Claim based on alleged
failure of auditor to advise Equitable about liabilities related to guaranteed annuity policies. Claim for damages of up to
£2.6bn based on argument that if properly advised, Equitable could have been sold for around £1.9bn.