E&Y in bid to stop Equitable probe
Lawyers acting for Ernst & Young have asked the High Court to suspend an investigation over its work at trouble life insurer Equitable.
The Joint Disciplinary Scheme has been investigating the role of the auditors in the collapse of Equitable, claiming there was a strong public interest in the inquiry.
Equitable itself has filed a claim of £2.6bn against the firm, which E&Y claimed would be prejudiced by the outcome of the JDS investigation.
Since 8 December 1999 Equitable Life, the world’s oldest mutual life assurer, has ceased writing new business and operates only as a closed fund.