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Ex-tied agent sues Axa for £200,000 over &#39golden hello&#39

Axa is facing a £200,000 compensation claim from a former tied agent and IFA who is suing over a disputed golden hello payment.

Martyn Freeman is suing the company for breach of contract and loss of earnings.

The case reaches trial in Slough next week.

Freeman alleges that he was offered a £9,000 golden hello to become an Equity & Law tied agent in 1988. He was previously a sole trader IFA running Churchill Insurance Consultants.

He claims that, after becoming a tied agent, the terms were changed to an interest-free loan.

Freeman claims he was told that the sum would not have to be repaid.

In February 1991, he was sacked and Axa demanded repayment of the cash and interest. Freeman refused and has fallen foul of the PIA&#39s indebtedness rule which stops him working in the industry.

Freeman claims that key documents relating to how Axa treated the £9,000 pay ment have not been supplied to his legal team despite a court order.

He says: "There are other tied agents waiting on this claim. I have been ill with stress. I am looking for loss of earnings of around £200,000."

Axa press relations manager Peter Webb says: "As far as we are concerned, we have provided all relevant documents.

"The case goes ahead on January 21 and the company will be contesting it."

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