Key facts
- Evergrande's liquidators are opposing a HK$1 billion settlement between the Hong Kong watchdog and auditor PwC.
- The liquidators argue the settlement amount is insufficient.
- They also claim the settlement could negatively impact creditors.
- PwC is accused of misconduct related to its auditing of Evergrande's financial statements.
Liquidators for the embattled Chinese property developer China Evergrande Group are challenging a proposed HK$1 billion settlement between the Hong Kong Institute of Certified Public Accountants (HKICPA) and auditor PwC. The liquidators contend that the settlement amount is insufficient and could potentially harm the interests of Evergrande's creditors. PwC is facing scrutiny over its role in auditing Evergrande's financial statements, which have come under intense examination amid the developer's ongoing liquidation process. The HKICPA's proposed settlement aims to resolve allegations of professional misconduct against the auditing firm.