In Reply to: Equitable: Compensation. posted by Keith Sloan on 08 March 2004 at 15:51:31:
: With Oliver Letwin calling in the commons for Equitable policy holders and former policy holders to be compensated. This is apparently ahead of Lord Penroses report which is supposed to be out today and intended to head off lots of legal claims for compensation, all according to today's Times.
: Okay the question is if the government provides compensation or legal claims start to occur, what chance IBMers who had their AVC's with Equitable getting any compensation.
: Thanks
It does not help that IBM will not allow publication of Trustee minutes where discussion of Equitable AVCs was held, especially meetings where Equitable was represented and professional advice was taken. Given AVC money is 100% employees money and risk this does not seem reasonable conduct by IBM. Did Lord Penrose cover company held AVCs in his long report and restricted reporting practices to investors like IBMs.