Saturday, April 09, 2005

Equitable sues for Pounds 3.7bn over 'negligence'

One of the biggest courtroom dramas in British corporate history will begin on Monday when Equitable Life takes on the accountancy company Ernst & Young and 15 of its former directors.
Equitable Life is making a negligence claim for just over £2bn against E&Y and for a further £1.7bn against the former directors of Equitable Life. Legal experts estimate that the total costs could hit £100m, making it one of the most expensive corporate legal battles in history.

See full Article.