A claim against Ernst & Young Hong Kong by the liquidator of Moulin Global Eyecare Holdings Ltd. “has been settled to the parties’ mutual satisfaction.” Sally Greig, a spokeswoman for Clifford Chance LLP said.

The former chief executive officer of Moulin, Cary Ma, will stand trial in September for crimes, which include making false statements, conspiracy to defraud and money laundering. He was charged together with nine other executives at the company.

Hong Kong police raided Ernst & Young’s offices last year and arrested a partner, Edmund Dang, who had audited Akai, which went bankrupt in 2000. Dang was released on bail, but the police investigation is ongoing. An enquiry into the Akai audit by law firm Linklaters LLP commissioned by Ernst & Young is reportedly ongoing.

Moulin went bankrupt in June 2005 after owing almost $500 million and disclosing accounting errors. Its liquidators are also suing KPMG for its auditing of the company in Hong Kong.