Evergrande’s liquidators are preparing for a potential lawsuit against PwC, which audited the now-collapsed Chinese property group for over a decade, in a move that could lead to the Big Four accounting firm facing a high-profile negligence claim, reports the Financial Times. Eddie Middleton and Tiffany Wong, the Alvarez & Marsal restructuring specialists appointed as…
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Restructuring
experts from Alvarez & Marsal will rely on China connections and
a track record of complicated corporate overhauls as they try to
engineer an outcome for property giant Evergrande that.
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The liquidation order could be difficult to implement as most of Evergrande’s assets are not in the three mainland Chinese cities covered under a cross-border scheme, according to S&P Global Ratings.