Hancock, PwC lawsuit changing venue

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Published: January 21,2010

Tags: accounting, bankruptcy, judiciary, lawsuit, retail

BALDWYN — A federal judge has ordered Hancock Fabrics’ lawsuit against its accountants moved to Delaware.

Hancock and PricewaterhouseCoopers (PwC) are incorporated in Delaware.

The Northeast Mississippi Daily Journal reports U.S. District Judge Michael P. Mills in Oxford issued the order this past week.

The accounting firm argued issues Hancock raised against it belonged with the same court over Hancock’s bankruptcy.

Hancock filed for Chapter 11 protection in Delaware Bankruptcy Court in March 2007. PwC was listed as an unsecured creditor.

The company exited bankruptcy protection in Aug. 2008.

In March 2009, Baldwyn-based Hancock sued PwC in Lee County, alleging its former accountants’ decisions contributed to its financial woes. PwC moved the lawsuit to federal court and asked for the transfer.

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