Liquidators of Cayman fund linked to $1B Asian Ponzi scheme sue PwC over ‘audit misrepresentations’ - OffshoreAlert

Court clarifies liquidators’ rights to audit files in Dale v BDO LLP - Debenhams Ottaway Solicitors

In the recent case of Dale & Ors v BDO LLP (Re NMCN PLC and NMCN Sustainable Solutions Ltd) [2025] EWHC 446 (Ch), the High Court considered the scope of a liquidator’s powers under sections 235 and 236 of the Insolvency Act 1986 when seeking the production of audit files from a company’s former auditors.   The decision provides valuable insight into the balancing exercise undertaken by the court when assessing the reasonableness of such requests…

Liquidators of Cayman fund linked to $1B Asian Ponzi scheme sue PwC over ‘audit misrepresentations’ - OffshoreAlert

The liquidators of Cayman Islands-based Spectra SPC, which claims to be owed more than $337 million by an Asian group – Malaysia’s City Credit – that allegedly perpetrated a $1 billion Ponzi scheme, are suing the Fund’s auditor, PricewaterhouseCoopers. The Fund was operated by Hong Kong-based, Chinese national Clement Tung.The post Liquidators of Cayman fund linked to $1B Asian Ponzi scheme sue PwC over ‘audit misrepresentations’ first appeared …