High Court finds Government maladministration over Equitable Life (Greg Stone)

High Court finds Government maladministration over Equitable Life

October 16, 2009 10:40 AM

Greg Stone has welcomed the announcement that the Lib Dems will use one of their allotted parliamentary "days" to challenge the Government over Equitable Life, after the Government was defeated in the High Court in an attempt to overturn the parliamentary ombudsman's findings of maladministration and regulatory failure.

Greg is an Equitable Life policyholder and has been contacted by several other people who have been badly affected. He said "I am pleased Vince Cable will be directly challenging the Government on their shameful record on this in Parliament shortly. The failure of the Treasury to admit they shared liability in the lack of financial regulation of Equitable Life has affected thousands of people. Since 2001, more than 30,000 people have died before receiving the compensation they are entitled to, but the Treasury has merely stalled and dithered over doing the honourable thing and compensating those affected by the failure of financial services regulation"