Pioneer Credit (ASX:PNC) said that the Supreme Court of Western Australia, in a Thursday conference, ordered a directions hearing for July 31 regarding the company's ongoing legal claim against PricewaterhouseCoopers (PwC), according to a Friday filing with the Australian bourse.
The company claims PwC's 2017 advice to continue reporting the value of its purchased debt portfolios at fair value through profit or loss led to an estimated AU$27 million loss, with the claim exceeding AU$32 million, including interest, the filing said.
PwC did not immediately respond to a comment request from MT Newswires.
Pioneer Credit's shares fell almost 2% in recent Friday trade.
Price (AUD): $0.44, Change: $-0.0070, Percent Change: -1.57%
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