Doubt over Manchester Building Society’s long term prospects after court ruling
The "long-term prospects" of Manchester Building Society were in doubt this afternoon, following a court hearing.
On May 2, the High Court awarded damages of £335,727, including interest, to the Society regarding a case related to audit services provided by Grant Thornton UK, former auditors of the Society.
The Society admitted this was "considerably below" the £49m it had claimed.
It also warned that it could also face costs relating to the case, to be determined at a hearing this month.
Following the hearing today it r... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
