PricewaterhouseCoopers International Remains in China Evergrande Lawsuit
A Hong Kong court has ruled that PricewaterhouseCoopers International Limited (PwCIL) cannot be removed from a lawsuit brought by the liquidators of China Evergrande Group. The case involves allegations of negligent auditing and seeks damages totaling up to 57 billion yuan against PwCIL, along with its Hong Kong and mainland Chinese arms. The court found that PwCIL owed a duty of care to Evergrande and emphasized the need for further discovery before reaching final judgment. The liquidators managing Evergrande's wind-up welcomed the decision as it allows them to continue investigating financial affairs and pursuing recoveries for creditors. In response, PwCIL stated its disagreement with the ruling but respects the court’s process. The lawsuit was initiated in May 2026 by the appointed liquidators Edward Middleton and Tiffany Wong from Alvarez & Marsal following Evergrande's collapse into insolvency.
Topics: auditing Evergrande Group litigation