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NEW YORK/ DETROIT, March 28- Fisker Automotive, the green-car company that has not built a car since July, has hired law firm Kirkland& Ellis to advise it on a possible bankruptcy filing, a person close to the matter said on Thursday.
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DETROIT/ NEW YORK, March 28- Fisker Automotive, the green-car company that has not built a car since July, hired restructuring lawyers from Kirkland& Ellis to prepare for a possible bankruptcy filing, The Wall Street Journal reported on Thursday, citing people familiar with the matter. On April 22, Fisker must make a payment on a U.S. Department of Energy loan.
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LONDON, March 28- A group of shareholders in Royal Bank of Scotland has launched a multi-million pound lawsuit against the state-owned bank for misleading investors at the height of the credit crisis in 2008..
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*Guinea picks law firms as advisers in contract review. CONAKRY, March 27- Guinea has chosen global law firm DLA Piper and three other advisers to help review and, if need be, renegotiate mining contracts signed by previous governments, the head of the review body told Reuters.
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HONG KONG, March 27- A partner from Ernst& Young testified in the Hong Kong High Court on Wednesday, the first senior executive from one of the Big Four auditors to be cross-examined in what is turning into a global brawl pitting U.S. and Hong Kong regulators against their Chinese counterparts.
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MOSCOW, March 26- Russian businesses and banks that face losses from the European Union's bailout of Cyprus are considering legal action but may have a hard time making a case, say lawyers who are combing through treaties find strategies to recover funds.
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NEW YORK, March 21- Legislation aimed at curbing class action abuses has made it more difficult to sue auditors in the United States, but legal claims against auditors are rising in other countries. More countries have been passing rules allowing class actions, which can make audit firms vulnerable to huge claims when accounting scandals erupt.
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NEW YORK, March 21- Class actions against the world's largest corporate auditing firms are spreading globally as governments bolster investor protection laws in countries where the Big Four firms have previously not faced substantial legal risks.
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CHICAGO, March 20- The trustee overseeing the collapse of Peregrine Financial Group is seeking documents from the futures broker's former accountant in an attempt to track down millions of dollars missing from customers' accounts, court records show.
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As if audits aren't painful enough -- there's a lot the IRS won't tell you. Check out these tips from a former IRS agent.
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NEW YORK, March 13- Apple Inc Chief Executive Tim Cook must sit for a deposition in the U.S. government's lawsuit against the company over alleged price-fixing in the e-book market, a judge ruled on Wednesday. The government had argued that Cook likely had relevant information about Apple's entry into the e-books market.
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DETROIT, March 12- Kevyn Orr, a lawyer who earned $1 million in fees for helping manage the Chrysler bankruptcy in 2009, is Michigan Governor Rick Snyder's top pick to be Detroit's financial emergency manager, a source with direct knowledge of the choice said on Tuesday.
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NEW YORK, March 12- Some formerly resolute do-it-yourselfers are giving up their calculators and turning to professional tax preparers for help with their returns, following the flood of tax changes that were enacted as part of the fiscal cliff deal at the beginning of 2013..
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In an unusual move that could scare others away from the program, the IRS has told dozens of customers of Israel's Bank Leumi they have been disqualified from participating, said lawyers for the customers. The program, revived in January 2012, has helped the IRS collect billions of dollars in tax revenues.
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*PCAOB cites woes from 2007, 2008 PwC audits,' CAKE' issue. March 7- The U.S. regulator of corporate auditors criticized PricewaterhouseCoopers on Thursday for not doing enough to ensure that its audits were properly carried out, in a rare public reprimand of a major accounting firm.
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March 7- The U.S. board that regulates corporate auditors is expected to release a report soon criticizing quality controls at accounting firm PricewaterhouseCoopers, according to an internal PwC memo dated March 7 and obtained by Reuters. The memo, signed by PwC's U.S.
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March 7- The U.S. regulator of corporate auditors will soon release a report criticizing quality controls at PricewaterhouseCoopers, according to an internal PwC memo obtained by Reuters. The March 7 memo was signed by PwC U.S. In October 2011, it faulted Deloitte for not doing enough to promptly improve audit quality systems.
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NEW YORK, March 1- Ernst& Young agreed on Friday to pay $123 million to resolve a federal investigation into its role developing and marketing tax shelters that helped its clients avoid more than $2 billion in tax liabilities, the U.S. government said. In June 2012, accounting firm BDO USA agreed to a $50 million settlement over similar allegations.
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NEW YORK, Feb 27- A federal bankruptcy judge approved the liquidation plan for Dewey& LeBoeuf on Wednesday, a milestone in the winding down of the collapsed law firm that paves the way for creditors to recover tens of millions of dollars.
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WASHINGTON, Feb 22- Federal tax refunds are arriving later than expected for some lower-income Americans due in part to closer scrutiny of earned income tax credit claims by the U.S. Internal Revenue Service, the IRS said on Friday. IRS employees have been carefully reviewing returns with claims for the EITC, a frequent fraud target.