HONG KONG, Aug 07 (AFP): Liquidators for China's Evergrande have filed a lawsuit against PwC in Hong Kong for its role in auditing the debt-ridden real estate behemoth, according to a report Wednesday by Bloomberg News.
The lawsuit is part of an ongoing effort to recover creditors' investments after a Hong Kong court in January ordered the liquidation of Evergrande, once China's biggest real estate company.
PwC and PricewaterhouseCoopers Zhong Tian LLP-the mainland Chinese arm of the auditing firm-were named in a lawsuit filed in March, Bloomberg reported based on court documents.
The lawsuit targeted PwC's "negligence" and "misrepresentation" in connection to reports on Evergrande's financial statement for 2017 and the first half of 2018, the report said.
Evergrande defaulted in 2021 and has become emblematic of a years-long crisis in China's property market that had reverberated throughout the world's second-largest economy.
Evergrande liquidators file lawsuit against PwC in Hong Kong
FE Team | Published: August 08, 2024 00:01:50
Evergrande liquidators file lawsuit against PwC in Hong Kong
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