E&Y will be keen to put the long-running legal wrangle behind it, after being dragged through the courts several times already. This time three separate appeals will be mounted.
Mark Hapgood, QC for Ernst & Young, will appeal Justice Langley’s decision to allow Equitable Life to pursue a bonus declaration claim worth up to £500m.Speaking at the time of Langley’s decision, E&Y partner Victoria Cochrane, said: ‘We continue to be confident that the bonus claim is ill-conceived and bound to fail at trial’.
Equitable Life, meanwhile, will appeal the judges’ decision to strike out the lost sale claim, originally worth £2.9bn, as well as reduce the value of the bonus declaration claim from £2.6bn to £500m.
The latter accuses E&Y of negligence, alleging that if the firm had advised Equitable correctly it would not have issued such generous bonuses to policyholders.
Most commentators believe Ernst & Young will offer to settle the bonus declaration claim, should its appeal to have it struck out fail.
A new head of solutions, Aidan Brennan, has been appointed at KPMG UK
Hundreds of jobs are secure after Spectrum Contracting has been sold out of administration to Minstrell Recruitment by FRP Advisory
Cowgill Holloway and Warings Business Advisors have merged, with a range of growth plans in the North West put in place
The Practitioner discusses their timesheet militancy, and reaction to someone playing it fast and loose with the details...