Evergrande’s liquidators have applied for a judicial review challenging the Securities and Futures Commission’s agreement with PwC to set aside HK$1 billion to compensate independent shareholders, local media outlet Ming Pao reports.
- Filing argues the SFC lacks statutory authority to settle with a non‑regulated entity
- Says the Accounting and Financial Reporting Council, not the SFC, regulates public interest entity auditors such as PwC Hong Kong
- Liquidators contend the SFC failed to consider whether the deal could unfairly prejudice Evergrande’s creditors during liquidation
- They had sought more information and urged the SFC not to act on the agreement or distribute ...