Evergrande Liquidators Seek to Block $128 Million PwC-SFC Settlement

Liquidators for China Evergrande Group challenged Hong Kong’s securities regulator in court on Wednesday, seeking to block a settlement it reached with PricewaterhouseCoopers Hong Kong on the grounds that the deal improperly prioritizes minority shareholders over creditors.

During a judicial review hearing, lawyers for the liquidators accused the Securities and Futures Commission (SFC) of overstepping its authority by brokering a deal that requires the accounting firm to set aside HK$1 billion ($128 million) to compensate Evergrande’s independent minority shareholders.