Partial settlement with Barings’ auditors

Partial settlement has been achieved by Barings’ liquidator, Ernst & Young, in the £1bn high court negligence action against former auditors. While both sets of auditors deny failure of duty, Coopers & Lybrand is negotiating the payment of an undisclosed sum but earlier auditor Deloitte & Touche has stuck out for the £1bn claim against it to proceed so that it could defend itself in court.