The joint administrator of NMC Health has filed a claim of at least $2.5 billion in the High Court against EY, the former auditor of the collapsed private healthcare company.
Alvarez & Marsal said yesterday that as “part of our wide-ranging investigation into the situation, we have looked at the role of the auditors and have now launched formal legal proceedings against EY in the UK for audit negligence with regards to its work with the company between 2012 and 2018.
“As administrators, we have an obligation to maximise returns for creditors and this action is part of those wider efforts.”
Alvarez & Marsal was appointed in April 2020 after an accounting scandal at NMC. The Financial Reporting Council, the accountancy watchdog, said in May