Friday April 3, 2020

PWC to apply for €30m in legal costs security for Quinn case

Former insurer is suing PwC for €800 million after €1.6 billion black hole found in accounts

2nd July, 2017

The accountancy giant PricewaterhouseCoopers (PwC)will apply this week for a court order securing the €30 million in legal costs it expects to pay in an action defending its auditing of Quinn Insurance Limited (QIL).

In 2010, administrators were appointed to the former motor and household insurer. They subsequently revealed a €1.6 billion black hole deficit in its accounts.

Arising from its collapse, QIL is suing PwC for €800 million for negligence, breach of contract and...

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