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Market Chatter: Hong Kong Court Sets Hearing on Evergrande Liquidators' Challenge to City Regulator

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A Hong Kong court agreed to hear a writ filed by China Evergrande's (HKG:3333) liquidators challenging the city's market regulator over its settlement agreement with PricewaterhouseCoopers Hong Kong, Bloomberg reported Tuesday.

The court-appointed liquidators sought a judicial review of the Securities and Futures Commission's April agreement with PwC Hong Kong to pay HK$1 billion in compensation to Evergrande's minority shareholders.

A hearing is scheduled for August even as the city's market regulator plans to move ahead with the payout deal, the report said.

The liquidators are also seeking 57 billion yuan in damages from PwC International and its Hong Kong and China affiliates over alleged negligent auditing and misrepresentation linked to Evergrande, Bloomberg reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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