BCCI liquidators mull offer on BoE legal fees

LONDON — Liquidators for collapsed bank BCCI are considering an offer to settle legal costs with the Bank of England after they spectacularly dropped their 850 million pound ($1.5 billion) lawsuit against the central bank.

Read more...

By (Reuters)

Published: Sat 12 Nov 2005, 9:51 AM

Last updated: Thu 2 Apr 2015, 5:14 PM

Lawyers for Deloitte, liquidators for BCCI (Bank of Credit and Commerce International), told the High Court they were considering an offer after the case — the first ever brought against the 311-year-old central bank — collapsed last week.

At a hearing in the High Court on Friday, lawyers for the Bank of England did not say how much it was seeking in compensation but its costs are expected to exceed 70 million pounds. Justice Stephen Tomlinson said if the two sides do not agree on costs they would have to come back to court in the week beginning January 30.

(Reuters)

Published: Sat 12 Nov 2005, 9:51 AM

Last updated: Thu 2 Apr 2015, 5:14 PM

Recommended for you