EY Accused of Negligence at £2 Billion Trial Over NMC Health (1)

EY continued to audit NMC Health Plc despite suspicions that management withheld key documents that revealed its true debt position, lawyers for the collapsed firm argued at the start of a £2 billion ($2.7 billion) London trial.

NMC’s administrator, Alvarez & Marsal sued EY in London alleging negligence and failure to spot the billions of hidden debt between 2012 and 2018 when EY was the auditor. NMC was put into administration in 2020 following allegations of fraud at the health care provider.

“It is remarkable that, despite its suspicions that management was lying about being unable to provide access to ...