KPMG Settles Over Norwegian Collection Agency Bankruptcy Case

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00015332-kpmg-settles-over-norwegian-collection-ag/

By James Bennett, Accountancy Age

The Norwegian branch of KPMG has said it will pay 347m kroner ($53.5 million) in damages to eight banks in an out-of-court settlement over one of the country’s worst bankruptcies in a bid to avoid years of court battles.

In its second large payout in a month, the Norwegian court found KPMG negligent in auditing the books of debt collection agency Finance Credit, which went bankrupt in 2003 owing 1.3bn kroner ($200.5 million) to the banks.

For this complete story, please visit KPMG Settles Over Norwegian Collection Agency Bankruptcy Case.

KPMG Settles Over Norwegian Collection Agency Bankruptcy Case

Unknown Author

Featured Resources

Webinars

RA Compliance Corner: Managing Your Service Providers- Do you really have it all in order?

About