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High Court approves Equitable compromise proposal

Equitable Life has won the first round of its battle to achieve the compromise deal which will rescue the ailing life insurer.

Mr Justice Lloyd ruled on Monday in the High Court that Equitable may send its compromise scheme to policyholders for voting.

Chief executive Charles Thomson says: "This marks the end to an intensive period of preparation of the compromise scheme. Their positive vote will end the anxiety relating to the GAR rights and potential claims that has haunted policyholders for so long."

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