STOCKS | China Evergrande Liquidator Seeks Judicial Review of SFC-PwC Settlement

China Evergrande's liquidator Alvarez & Marsal has applied to Hong Kong's High Court for a judicial review of the Securities and Futures Commission's settlement with PwC that set aside HK$1 billion in compensation for Evergrande's independent shareholders. According to Ming Pao, the filing argues the SFC lacked statutory power to reach a settlement over alleged market misconduct with a non-regulated entity, PwC, and says the SFC failed to consider whether the agreement would unfairly prejudice Evergrande's creditors.