Further climb down by Equitable
Following its recent settlement with Ernst & Young, Equitable Life confirmed this week that it has dropped its negligence claim against two former directors - Peter Martin and Shaun Kinnis - on the basis that each side pays its own costs.
Mr Martin was a non executive director of the Society from January 1984 to April 2001. Mr Kinnis was on the Board from January 1989 to July 1997.
The Society has also withdrawn part of its claim against former director Chris Headdon, in relation to his role as Reporting Actuary.