PracticeAccounting FirmsEquitable Life accused of changing story

Equitable Life accused of changing story

Changes to Equitable's case cost ex-directors dearly.

Equitable Life was criticised yesterday for ‘changing its case as often as the Prince of Wales changes his mind about his wedding plans’.

Link: Equitable QC gets ball rolling in High Court

The accusation came at the end of Equitable’s opening statements, as the insurer sough to explain amendments to its case.

Ex-directors, who are being sued alongside Ernst & Young for alleged negligence in the late 1990s, made the remark during heated arguments yesterday afternoon, The Telegraph reports. The changes, they added, were heaping costs onto directors, some of whom are representing themselves.

Earlier this week, the ex-directors of the troubled mutual also alleged that they had been sued merely as a ‘conduit to really deep pockets’, namely those of E&Y.

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