A group of Equitable Life policyholders who have been pre-paring to take their case for compensation to the Bristol High Court have reached a settlement.
Law firm Clark Willmott partner Robert Morfee, who has been representing the policyholders, says the last four of its first batch of cases have settled out of court. He says his clients got full compensation and he has retained the freedom to advise other clients on their progress to date.
Morfee had planned to take the case to the High Court, as the parties were in disagreement as to whether they had actually reached an agreement or not on the basis of confidentiality.
Morfee believed Equitable's confidentiality requirements were too tight and wanted freedom to advise existing and new clients on the issue.
Equitable confirms that a settlement has been reached but declined to comment further, saying it is against its policy to comment on such matters.