Supreme Court to hear Deloitte appeal over Livent judgment

Supported By:

Net Patrol International Inc.  Data Investigation and Forensic Services
Bankruptcy and Insolvency Trustees

The Supreme Court of Canada will hear an appeal from Deloitte and Touche against a multimillion-dollar judgment awarded over its audit work for the Livent theatre company. The Ontario Court of Appeal ruled in January that the corporate auditor was partly responsible for the hundreds of millions of dollars creditors ended up losing to the fraudulent behaviour of impresario Garth Drabinsky and his partner, Myron Gottlieb. The court ordered Deloitte to pay $85.6-million — $118 million with interest — saying the auditor had been negligent in failing to detect and act on Drabinsky’s fraud.

Read the full article at CTV News.