EY Faces UK Lawsuit Over Audit Of Collapsed Health Co.

Law360, London (November 6, 2020, 9:16 PM GMT) -- EY is facing a lawsuit in the U.K. over its audit of failed hospitals operator NMC Health, which collapsed earlier this year amid allegations of multibillion-dollar fraud, the company's administrators said in a creditors' report Friday.

The former FTSE 100 health care company entered administration in March after revealing billions of dollars in unreported debt and discovering that more than $4 billion in loans that could have benefited third parties were not disclosed on its balance sheet.

In a progress report to creditors, administrator Alvarez & Marsal said it had initiated the legal process of making claims against the company's long-standing...

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