Evergrande Liquidators Challenge Hong Kong Watchdog's Settlement with PwC
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.
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Evergrande Liquidators Challenge Hong Kong Watchdog in Court
A Hong Kong court is set to hear arguments on whether a deal that set up a fund to compensate China Evergrande minority shareholders is valid.
By Pearl Liu and Trista Xinyi Luo
Read full article →Evergrande liquidators challenge watchdog’s HK$1 billion settlement with auditor PwC
Hong Kong’s securities market regulator has defended a HK$1 billion (US$128 million) settlement with an accounting firm at the centre of an auditing scandal involving developer China Evergrande Group, saying it has unfettered powers to enforce discipline and a duty to protect the interests of independent investors. In a judicial review hearing on Wednesday, lawyers for the Securities and Futures Commission (SFC) asked the High Court to dismiss a challenge by the developer’s liquidators, who a...
By Brian Wong
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