E&Y in court today
Ernst & Young begins its fight to get the Equitable Life civil action struck out in the UK High Court today.
Facing a claim of up to £2.6bn, the Big Four firm simply cannot afford to lose such a case. The judge presiding over the recent case with the Joint Disciplinary Scheme said that if E&Y lost its case with Equitable it would face bankruptcy.
Legal experts close to the situation expect Ernst & Young to succeed.
The case is expected to continue for much of the week, with a judgement only due out in a couple of weeks.