The $8 Billion Fight That Shows Why Litigation Is Still the City’s Ultimate Blood Sport
A monster battle is unfolding in the sprawling claim against audit powerhouse PwC, born from the spectacular implosion of Chinese property behemoth China Evergrande, the most indebted property group in the world.
Senior silks like Richard Handyside KC, the Fountain Court Chambers’ Head, are facing off against those from 3 Verulam Buildings (3VB) where Adrian Beltrami KC represents the liquidators as they battle over allegations of negligence and misrepresentation in the $8.4 billion battle.
The numbers are eye-watering, even by City standards. Evergrande’s liquidators (led by Alvarez & Marsal’s Edward Middleton and Tiffany Wong) are pursuing 57 billion yuan (roughly $8.4 billion) in damages from PwC International, PwC Hong Kong, and PwC’s mainland China arm. They allege serious audit negligence and misrepresentation in the years leading up to Evergrande’s historic collapse, a King-sized property failure in a long list of major property failures.
Log in to read more . . .
The $8 Billion Fight That Shows Why Litigation Is Still the City’s Ultimate Blood Sport Read More »
