Global Accountants’ Liability Update – May 2021
By EsqSocial Corporation 27/05/21
Court of Appeal rules in favor of accounting firm in breach of contract claim - The Court of Appeal has rejected a claim from a California-based businessman that a global accounting firm failed to ensure that its employees acted with reasonable skill and care when acting as trustees in bankruptcy. A bankruptcy order was granted in 2002 over an unpaid debt of HK$30 million with the plaintiff being the most substantial unsecured creditor. The plaintiff engaged the firm, and two of its partners...
By: Hogan Lovells