Equitable Abandons Claim Against Auditor Calls for Thomson and Treves to Fall On Swords

Summary

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EQUITABLE Life's chairman Vanni Treves and chief executive Charles Thomson faced calls for their resignation yesterday after abandoning their [GBP]700m court action against the society's former auditors Ernst & Young.

While the Equitable Members' Action Group said Treves and Thomson should "fall on their swords", E&Y's general counsel Victoria Cochrane called it a "humiliating climbdown".

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Extract

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Equitable Abandons Claim Against Auditor Calls for Thomson and Treves to Fall On Swords

She also revealed that Equitable had changed its case six times, and had embarked on the 58 days of High Court proceedings despite Equitable board minutes, ne...

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