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Message
From: Jane MacLeod
Sent: 28/06/2018 0
To: Carla Stent { “VTim.Franklint
cc: Paula Vennells Briony
Tristt
\ndrew Parsons
E Patrick Bourke
ichael Passmore i
Subject: ARA - Contingent Liability wording re Postmaster Litigation -CONFIDENTIAL AND SUBJECT TO LEGAL PRIVILEGE.
Attachments: DRAFT WORDING FOR THE 2018 ANNUAL REPORT v5 (002).docx
All
One of the questions to be discussed at the ARC this afternoon is the extent of disclosure around the Postmaster
Litigation. As you will recall, Freeths recently included the estimate of £80-90 million in a skeleton argument submitted
to the Court relating to a costs hearing, and EY believe we should disclose this figure.
We would prefer not to disclose it as we don’t believe there is any substance to that number, and we believe that even
though we are seeking to heavily qualify the statement, as the only number in the public domain, it will gain a credence
that it doesn’t merit. Further, we can point to other examples where equivalent figures have not been disclosed.
Attached is the text of the current wording, together with a suggested draft as to what the disclosure would look like if
we included reference to the number. The text highlighted in yellow is optional — it is the full quote from the skeleton
argument, however we are concerned that by including the highlighted wording, we are drawing attention to the total
costs projected to be incurred in defending the claim, and this could be equally unhelpful.
lam aware that Tom, Tim and Ken are not available this afternoon, however I wanted to give you the opportunity to see
the draft language.
Kind regards,
Jane
e Jane MacLeod
Group Director of Legal, Risk & Governance
Ground Floor
20 Finsbury Street
LONDON
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