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Ex-directors in Equitable deal
EQUITABLE Life has abandoned its negligence claim against two former directors in return for both sides paying their own legal fees.
A judge heard that the mutual life insurer had reached settlements with David Wilson and Roger Bowley.
Equitable's 1.7 billion negligence action against 11 other former directors is continuing, but sources say the society would be keen to end the lengthy court case, which has cost it 30 million.
Equitable has accused its former board of failing to act early enough to deal with financial problems, which nearly resulted in its collapse five years ago.
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Saturday 26 May 2012
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