PwC Ireland sued for €1bn over Quinn audit

PwC Ireland is being sued by the joint administrators of Quinn Insurance Limited for €1bn over alleged negligent auditing.

The Irish insurance company went into administration in 2010, after the financial regulator expressed concern over finances of the company and how it was being run.

Michael McAteer and Paul McCann of Grant Thornton were then appointed as joint administrators and sold most of the company, except healthcare, in a deal involving US Liberty Insurance in 2012.

Former auditor PwC confirmed that...

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