Alvarez & Marsal has filed the latest statement of affairs for the six-month period ending 8 April 2026, detailing the settlement figure for the EY claim, which was settled without ‘admission of liability’ just days before the High Court decision was due.

‘The claim brought against PLC’s former statutory auditor, EY UK LLP has been resolved without admission of liability. The settlement agreement and its terms otherwise remain confidential,’ stated Alvarez & Marsal.

The statement of affairs confirmed the ‘company received £105,500,000 in relation to the resolution of litigation’.

The High Court case related to a £2bn claim for damages against EY for audit negligence and was resolved out of court after a 12-week trial. EY was auditor of NMC for eight years from April 2012 when the first listed through to 2020, when the business collapsed after £258m in ‘accounting irregularities’ was disclosed related to loans to related parties. NMC, which was listed in London on the FTSE 250 but operated in the Middle East, went into administration with $4bn of debt.

Fro