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.

Related Articles

Johnston Carmichael CEO appointed as ICAS president

Accounting Firms Johnston Carmichael CEO appointed as ICAS president

3w Emma Smith, Managing Editor
British Accountancy Awards 2018 – entries open!

Accounting Firms British Accountancy Awards 2018 – entries open!

1m Emma Smith, Managing Editor
Is the accountancy sector facing an international talent crisis?

Accounting Firms Is the accountancy sector facing an international talent crisis?

1m Lewis Silkin
RSM appoints new Chief Operating Officer

Accounting Firms RSM appoints new Chief Operating Officer

1m Alia Shoaib, Reporter
RSM announces 11 partner promotions

Accounting Firms RSM announces 11 partner promotions

2m Emma Smith, Managing Editor
BDO hires former AstraZeneca creative director as head of digital and innovation

Accounting Firms BDO hires former AstraZeneca creative director as head of digital and innovation

2m Emma Smith, Managing Editor
What does the future hold for listed accountancy firms?

Accounting Firms What does the future hold for listed accountancy firms?

2m Fergus Payne, Lewis Silkin
EY, Deloitte lead Big Four in gender pay gap reporting

Accounting Firms EY, Deloitte lead Big Four in gender pay gap reporting

2m Emma Smith, Managing Editor