Accountancy group PwC has paid €25m into the inventory of bankrupt energy group Econcern in an out of court settlement, it emerged on Thursday.

The settlement ends PwC’s legal fight against the accountancy sector’s disciplinary board which suspended two PwC accountants for one month for wrongly approving the accounts of the company in 2007.

Details of the agreement are published in the 16th report on the bankruptcy published by the official receivers.

Econcern went bust in 2009 owing €1bn. It had started out as a small cooperative in Utrecht but had grown into an international concern with operations in 24 countries by the time it collapsed.

The Financieele Dagblad points out that the settlement is one of the biggest public deals ever made in the Netherlands. Top of the list is SBM Offshore’s agreement to pay €185m to head off a trial about bribery in Brazil.