Ernst & Young has delayed in filing its evidence in a lawsuit by Sydney-based investment firm London City Equities over its auditing of collapsed soda ash maker Penrice after hiring Holding Redlich to replace Allens just a few months before a mediation deadline.
Ernst & Young has resigned from its role as Omni Bridgeway’s long-time auditor after determining a class action against it that’s being backed by the litigation funder could threaten its independence.
Construction company Clough Limited has appealed a ruling that found it cannot claim over $15 million paid to employees for cancellation of their shares and options as a tax deduction.
A judge has found the lead applicant and funder in a discontinued class action against Pitcher Partners over its auditing of Slater & Gordon must pay the bill for the flurry of cross-claims brought in the proceeding, but has rejecting the accounting firm’s argument that its costs should be paid on an indemnity basis.
Construction company Clough Limited cannot claim over $15 million paid to employees for cancellation of their shares and options as a tax deduction, with a judge dismissing the Perth-based company’s appeal of a decision from the Commissioner of Taxation.
A judge has found that auditor Ernst & Young cannot rely on the privilege against self-incrimination in a lawsuit brought over its audits of failed financial services firm LM Investment Management.
Pitcher Partners says the lead applicant in a discontinued class action over its auditing of Slater and Gordon should cover the costs for cross-claims it brought against nine parties, including the law firm and several of its former directors.
Ernst & Young is facing a claim for $12 million damages in a lawsuit over its auditing of collapsed soda ash maker Penrice.
The Australian liquidator of Lehman Brothers has filed a lawsuit seeking $40 million from Fitch Ratings for assigning too-rosy ratings to toxic financial products sold by the bank, following the discovery of a hidden table in Fitch’s rating model by the lawyers leading a now-settled class action against the accounting firm.
Deloitte chairman Tom Imbresi has defended a move by a firm partner to make off with the audit file of collapsed construction company Hastie after a court ordered it be produced to the applicant in a class action against the accounting giant.