EY has settled the case brought against it by the administrators of NMC Health plc.
The London-listed health giant collapsed in April 2020 after being placed in administration. EY was the group’s auditor from December 2012 until NMC’s demise.
The administrators, Alvarez and Marsal, filed a £2bn legal action against EY in the High Court, accusing the Big 4 firm of being ‘grossly negligent’ and failing in its most fundamental audit duties.
Then just before the judge’s ruling at trail, a spokesperson for Alvarez & Marsal confirmed a confidential settlement had been agreed out of court between the parties.
