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Evergrande's liquidators are challenging the Hong Kong watchdog's HK$1 billion settlement with auditor PwC in court. This legal action disputes the terms of the agreement reached between the regulator and the auditing firm.
Liquidators for the embattled Chinese property developer China Evergrande have filed a lawsuit against auditing firm PwC, seeking $8.4 billion in damages related to its past audit work.
Liquidators for Evergrande are reportedly in discussions to sell the company's property management arm to a state-owned firm.
Liquidators for China Evergrande have sent a letter to PwC auditors, warning them against using divorce proceedings to shield assets amidst reports of some partners taking steps to avoid potential damage payouts.
Liquidators for China Evergrande Group have filed a lawsuit in Hong Kong seeking $8.4 billion from accounting firm PwC. The claim accuses PwC of negligence in its audits of the embattled property developer.
Xu Jiayin, the billionaire founder of the embattled Chinese property giant Evergrande, has pleaded guilty to fraud charges. This development marks a significant turn for the company, which is the world's most indebted property developer.
Liquidators for the embattled Chinese property developer Evergrande have initiated an $8.4 billion negligence claim against auditing firm PwC.
The Hong Kong High Court is scheduled to hear the lawsuit filed by China Evergrande Group's liquidators against PricewaterhouseCoopers (PwC) International on Monday. The one-day hearing is listed on the judiciary's website.