Equitable Life update planned
AN UPDATE on plans to compensate former policyholders of Equitable Life will be given to MPs within the next three weeks, it emerged yesterday.
Shadow Commons leader Alan Duncan said Treasury Chief Secretary Liam Byrne had told him there would be a statement before the summer recess.
Equitable Life was brought to its knees in 2000 when it lost a legal battle in the House of Lords over policyholders' rights.
The government has appointed former judge Sir John Chadwick to advise it on making ex-gratia payments to policyholders who have been "disproportionately affected".
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Friday 17 February 2012
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