PracticeAccounting FirmsE&Y in bid to stop Equitable probe

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.

Link: E&Y resists Equitable writ

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.

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