Liquidators chasing CBL directors for $316m, PwC case reveals

PwC had been CBL Insurance's actuary for five years.

Fri, 18 Jun 2021

A judge has limited how much CBL Insurance’s liquidators can sue the collapsed insurer’s actuary PwC for.PwC and two of its actuaries are three of nine defendants the liquidators for the insurers are suing in relation to its collapse.The others are the former listed insurer’s directors including Peter Harris and Alistair Hutchinson.Liquidator Kare Johnstone has claimed $278 million from the big four accountancy firm, but the high court at Auckland said liability must be capped at $6.2m, or five times its fee.The big four accou...

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