19-May-2026
Corporate News
 
Evergrande Liquidators Seek $8.4 Billion From PwC, Accusing It of Negligent Audits
19-May-2026

Liquidators for Evergrande Group, the failed Chinese property giant, are seeking 57 billion yuan ($8.4 billion) in damages from PwC, accusing it of being negligent in its auditing work, a Hong Kong court was told on Monday. Potential damages would come on top of hefty fines imposed on the global auditing group by mainland Chinese and Hong Kong authorities after Evergrande collapsed with more than $300 billion of liabilities, becoming one of the biggest casualties of China's property sector crisis. The total claim by liquidators, Edward Middleton and Tiffany Wong of Alvarez & Marsal, was made against PwC International, PwC HK and PwC's China arm, while the maximum amount that PwC International could be liable for is 38 billion yuan. Monday's hearing was focused on how much responsibility PwC International should bear. Richard Handyside, a lawyer representing PwC International, argued that the firm should not be a party to the case as the Big Four company consists of several firms and the Hong Kong and China entities were not its subsidiaries.

News Source:- https://money.usnews.com/investing/news/articles/2026-05-18/evergrande-liquidators-seek-8-4-billion-from-pwc-accusing-it-of-negligent-audits