Lawyers for Evergrande liquidators investigate service providers, including former auditor PwC, to recoup losses for creditors in the liquidation process.
Lawyers appointed by the liquidators of China Evergrande Group are investigating the property developer's service providers, including former auditor PricewaterhouseCoopers (PwC), to potentially recoup losses for creditors as part of the liquidation process. Evergrande, once China's largest property developer, was ordered to be liquidated by a Hong Kong court in January after failing to deliver a restructuring plan for its offshore debt. The liquidation could take more than a decade and may set a precedent for future major Chinese corporate winding-up processes.
June 14, 2024
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