New Lloyd's investigation

Lloyd's of London is launching an investigation into matters raised by Mr Justice Creswell's findings earlier this week in the Merrett case. Mr Justice Creswell ruled in favour of the Merrett Names Association in its High Court claim for damages from underwriter Stephen Merrett, Merrett Syndicates and auditors Ernst & Young. Lloyd's said the findings of Mr Justice Creswell raised a prima facie case that there may have been misconduct which could lead to disciplinary action.

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