The Supreme Court of Canada has agreed to hear a lawsuit by the province against Atcon’s accounting firm.
The province sued Grant Thornton, which audited the Atcon Group, in an attempt to recover $50 million in losses it incurred in the Atcon scandal.
In 2009, the province loaned the Miramichi-based company $50 million based on an audit by Grant Thronton. Atcon then went under, and was unable to repay the loan.
The case was dismissed by a judge last year, who said the province had waited to long to file it when they did so in 2014.
The provincial court of appeal restored the case in March, but, ruled that just because the province may have had a potential claim before June 2012, that wasn’t enough to start the two-year window for litigation.