SFI Group is suing its former auditor, Horwath Clark Whitehill, for £54m. HCW served SFI’s accountant for ten years until 2002, when a £23m overstatement was found on the latter’s books. SFI shareholders are keen to recoup as much money as possible, and the claim against HCW could go some way to recovering £58.8m in "fundamental accounting errors" that helped sink the bar operator. According to the Morning Advertiser, SFI justifies the suit by claiming it undertook strategic decisions based on the HCW inaccurate audits. HCW chief executive told the paper: "We are defending this strongly. On a day to day basis, this is now an insurance company matter."