PwC has said it will "vigorously" defend itself after Cattles launched a claim for damages against the accountancy giant.

The High Court action by the lender acuses PwC of allegedly failing in the way it audited Cattles's accounts.

In a statement, PwC said: "We are disappointed that this claim has been issued given the FSA's censure of the company for market abuse as well as the FSA's conclusion that certain directors of Cattles plc were found to have acted without integrity in discharging their responsibilitie......for the full story register now for free or login below...