Liquidators for the collapsed Bank of Credit and Commerce International, which failed in a $1.8 billion suit against the Bank of England, agreed Wednesday to pay costs of $137.6 million. BCCI had tried unsuccessfully to sue the central bank in one of the longest and costliest cases in British legal history. The lawsuit, brought by liquidators Deloitte Touche Tohmatsu, accused the bank of negligence for failing to clamp down on fraudulent activities at BCCI that led to its collapse with a $10 billion debt.
June 08, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Liquidators for the collapsed Bank of Credit and Commerce International, which failed in its $1.8 billion lawsuit against the Bank of England, agreed Wednesday to pay costs of $137.6 million.
BCCI tried unsuccessfully to sue the central bank in one of the longest running — and most expensive — cases in British legal history.
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