EY UK Pays Over £100 Million to Settle NMC Health Audit Claim
Updated
Updated · Bloomberg · May 16
EY UK Pays Over £100 Million to Settle NMC Health Audit Claim
3 articles · Updated · Bloomberg · May 16
More than £100 million was paid by EY UK to NMC Health’s administrators to settle claims tied to its audits of the collapsed healthcare group.
The settlement resolves a UK court case in which NMC had sought more than £2 billion over alleged audit negligence, according to the company’s latest administration report filed at Companies House.
Confidential terms were agreed without any admission of liability by EY, people familiar with the matter said.
The payout closes a major claim arising from NMC’s failure, with the administrators disclosing the deal as part of the ongoing administration process.
After a £2 billion lawsuit over a massive fraud, why did auditors EY settle for just £100 million?
How did a Big Four auditor completely miss billions in debt that was hidden in a second set of books?