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Ernst & Young resists Equitable claim

Ernst & Young is applying to the high court for Equitable Life&#39s £2.9bn claim against it to be struck out because the accountancy firm says there is no basis for the case.

Ernst & Young signed off Equitable&#39s account during the nineties – the period during which its guaranteed annuities liabilities grew to the level that forced it to stop writing new business.

A spokesman for Equitable Life says it will resist the move and says: “We are moving ahead with this very important claim against our former auditors on behalf of policyholders.”

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