Equitable Life Must Avoid Wasting Limited Funds On Legal Action - Cable
4.01.01pm BST (GMT +0100) Wed 28th Apr 2004
Commenting on news that a group of Equitable Life policy holders is planning on suing the society to reclaim their losses, Liberal Democrat Shadow Chancellor Dr Vince Cable said: "Annuitants are the biggest victims from the failure of Equitable Life as they are trapped within the company, and it is understandable why they intend to sue."
"However, it would be unfortunate if limited funds within Equitable Life were used up in fighting legal actions, which will not necessarily put annuitants in any better position."
"Annuitants need to secure a redress from the Ombudsman, and as she has asked to consider new submissions, this is something that should be seized upon."
[Print this story]
[Previous story]: Brown Sugar and Sweet Words Not Enough To Tackle Debt (Wed 28th Apr 2004).
[Next story]: Horrifying £11.9billion In Uncollected VAT (Wed 28th Apr 2004).
[Other news stories from April 2004 (28)]
Related News Stories:
Wed 19th May 2004:
[Equitable Life: Ombudsman Should Investigate Further]
Wed 31st Mar 2004:
[Inequitable Decision By Equitable Life - Cable]
Wed 24th Mar 2004:
[Equitable Life Refuses To Release Vital Figures ]
Wed 10th Mar 2004:
[Charles Kennedy: Ombudsman Investigation Needed Into Regulation Of Equitable Life]
[Equitable Life: Government May Have Case To Answer In Europe]
Tue 24th Feb 2004:
[Brown Cannot Duck Responsibility Over Equitable Life Losers]
Fri 23rd Jan 2004:
[Fraud Office Investigation Will Give New Hope To Equitable Life Losers - Cable]
Tue 28th Oct 2003:
[Equitable Life: Complaints Procedure "Totally Unacceptable"]
Tue 1st Jul 2003:
[EQUITABLE DECISION? HARDLY! - CABLE]
Thu 27th Mar 2003:
[Report Throws New Complexion On Equitable Life]
Wed 12th Mar 2003:
[Compensate All Equitable Life Victims, Not Just Complainants]
Printed and hosted by Prater Raines Partners, 82b Sandgate High Street, Folkestone CT20 3BX.
Published and promoted by Liberal Democrats in Business, 4 Cowley Street, London SW1P 3NB.
The views expressed are those of the party, not of the service provider.
|