Manchester Building Society files negligence claim

Manchester Building Society files negligence claim against Grant Thornton

Manchester Building Society Group ("the Society") has served upon Grant Thornton a claim for a sum in excess of £49million for breach of contract, negligence and breach of statutory duty relating to audit services and advice provided in the years from 2006 up to and including 2013, at which point Grant Thornton resigned as the Society's external auditors. The claim primarily covers Grant Thornton's advice and audit services relating to the implementation and application of hedge accounting by the Society.

If the Society is unable to reach satisfactory agreement with Grant Thornton the matter will progress to a court hearing.

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