19-05-2025
EY in High Court for £2bn claim by NMC Health administrators
The High Court trial for a multibillion-pound claim brought by the administrator of NMC Health against EY, the former auditor of the collapsed FTSE 100 company, is set to start on Monday.
Insolvency practitioners at Alvarez & Marsal filed a claim against EY, one of the big four accounting firms, three years ago for breach of contract and duty of care, and negligence relating to EY's work for NMC between 2012 and 2018. The claim is expected to be for in the region of £2 billion.
Alvarez & Marsal was appointed in April 2020 when NMC suddenly unravelled following a report by Muddy Waters, a US short-seller, that raised accounting and governance issues.
NMC, founded by Bavaguthu Raghuram Shetty, an Indian tycoon, was based in
