Utley set to press on with Hastings IPO despite Lloyd’s Equity settlement
The outcome of a Lloyd’s investigation into former Equity Red Star chief executive Neil Utley is unlikely to affect plans to float at Hastings where he is currently chairman, according to market observers.
Under the terms of a settlement with Lloyd’s last week, Utley agreed to pay £130 000 and was barred from applying for Lloyd’s directorships for two years.
The settlement saw Utley concede
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