Bosses sued for pounds 1.7bn.

FORMER Equitable Life Equitable Life may refer to:

The Equitable Life Assurance Society, life insurance company in the United Kingdom
AXA Equitable Life Insurance Company, formerly the The Equitable Life Assurance Society of the United States

bosses say a pounds 1.7billion lawsuit against them is a way for the insurers to get into the 'deep pockets' of auditors Ernst &Young.

The claim came as lawyers began presenting their case at the High Court in London.

Equitable Life are suing Ernst & Young for pounds 2.05billion and claiming up to pounds 1.7billion against 15 former directors.

The defence claim chairman Vanni Treves told a fellow director that Equitable equitable adj. 1) just, based on fairness and not legal technicalities. 2) refers to positive remedies (orders to do something, not money damages) employed by the courts to solve disputes or give relief. (See: equity)

EQUITABLE. just wanted to see if there was 'a deep pocket that could be made to pay, for example E&Y

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Title Annotation:	Business
Publication:	Daily Record (Glasgow, Scotland)
Geographic Code:	1USA
Date:	Apr 12, 2005
Words:	96
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