It may seem an odd question at a time when US policymakers are gearing up for FDR-style interventionalism on Wall Street, but what was wrong with leaving the market to settle the issue of costs in complex commercial litigation? I ask because following the furore surrounding the collapse of BCCI creditors' case against the Bank of England back in November 2005, it became the widespread view among litigators and the judiciary that something must be done! With broadsheet condemnation ringing in the profession's ears, a working party chaired by Mr Justice Aikens was set up in 2006, ultimately producing fairly uncontroversial recommendations the following year.
September 25, 2008 at 01:58 AM
1 minute read
The original version of this story was published on Legalweek
It may seem an odd question at a time when US policymakers are gearing up for FDR-style interventionalism on Wall Street, but what was wrong with leaving the market to settle the issue of costs in complex commercial litigation?
I ask because following the furore surrounding the collapse of BCCI creditors’ case against the Bank of England back in November 2005, it became the widespread view among litigators and the judiciary that something must be done!
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