Market Chatter: China Evergrande's Liquidators to Challenge HK Regulator's HK$1 Billion Compensation Deal With PwC
China Evergrande's (HKG:3333) liquidators on Friday filed a court writ in Hong Kong seeking to challenge the city's market regulator over its settlement agreement with PricewaterhouseCoopers Hong Kong, the South China Morning Post reported Monday.The court-appointed liquidators are seeking leave to apply for 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.The liquidators argued that the agreement leaves China Evergrande's creditors HK$1 billion worse off and are seeking to prevent the city's regulator from implementing the settlement.(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.)