Fresh claims emerge in Cattles legal action
Yorkshire subprime lender Cattles has officially filed papers with the High Court in London against its former auditor PwC over failing to spot danger signs in its accounts.
A spokesperson for the company confirmed the High Court action occurred late last week, shedding new light on the £1.6bn damages claim against PwC.
It also follows two recent disciplinary hearings where former finance directors of the company Peter Miller and James Corr were banned from the ICAEW and ICAS respectively.
The long-running accountancy scandal surfaced in early 2009 after warnings from a whistle-blower, but Cattles has argued that PwC should have raised the alarm at least two years earlier.