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PwC to pay several billion for the settlement of the case of audit errors

The consulting company PricewaterhouseCoopers (PwC) has agreed on a pre-trial settlement of the bankruptcy case of its former client MF Global.

MF Global, which turned bankrupt during the global financial crisis, accused PwC of making mistakes in consulting and auditing the company. The amount of compensation is not reported, but the bankruptcy managers of MF Global demanded payment of $3 billion.

The brokerage company MF Global went bankrupt in 2011: it reported a debt of $39.7 billion with assets of $41 billion. The company has actively invested in the sovereign debts of such eurozone countries as Spain, Italy, Portugal, Belgium and Ireland.

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