Lawyers appointed by the liquidators of China Evergrande Group 3333.HK are investigating some of the property developer’s service providers including its former auditor PricewaterhouseCoopers, to potentially recoup losses for creditors, three sources said. Evergrande, once China’s largest property developer, was …
China is poised to impose a record fine on PricewaterhouseCoopers LLP and suspend some of the global auditor’s local operations over its role in one of the nation’s biggest alleged financial fraud cases, according to people familiar with the matter. …
PricewaterhouseCoopers LLP lost five Chinese clients in May alone, adding to a list of more than a dozen firms its stopped auditing in the country in the last two years. China Taiping Insurance Holdings Co. said on May 27 it …
Chinese authorities are examining the role of PricewaterhouseCoopers LLP in China Evergrande Group’s accounting practices after the developer was accused of a $78 billion fraud, ramping up pressure on the global accounting giant that audited a slew of developers before …
China Evergrande Group’s alleged $78 billion revenue overstatement escalates the legal peril of founder Hui Ka Yan, who now stands at the center of one of the biggest financial fraud cases in history. The nation’s top securities regulator said the …
A report that Chinese authorities asked Ping An Insurance Group Co. to rescue Country Garden Holdings Co. sent the insurer’s stock sliding, wiping out $3.1 billion from its valuation. Distressed developer Country Garden, on the other hand, jumped 12% to …
Ping An Insurance (Group) Co. said it doesn’t hold any shares in Country Garden Holdings Co. and has no plans to acquire the distressed Chinese developer, refuting a report that sent the insurance giant’s stock tumbling on Wednesday. The insurer …
Authorities detained some staff of the money management business of China Evergrande Group, a sign that the saga around the defaulted developer at the heart of the nation’s property crisis has entered a new phase involving the criminal justice system. …
GUANGZHOU, China – Investors in financial products issued by China Evergrande Group protested outside the cash-strapped company’s offices in Guangzhou on Tuesday, with many worried that their returns would be sacrificed to keep real estate projects afloat. Members of the …
The U.S. insurance industry faces only minimal exposure to land development companies in China as one of that country’s largest property developers, Evergrande, appears on the brink of collapse. According to analysts with the National Association of Insurance Commissioners (NAIC) …
