The Bank of England is to appeal the High Court’s controversial ruling in the BCCI case that
key correspondence between it and its adviser, Freshfields Bruckhaus Deringer, is not protected by legal privilege.

The case, which has sent shockwaves through the legal community, saw Mr Justice Tomlinson rule that correspondence between Freshfields and the bank concerning its submissions to the Bingham inquiry into the collapse of BCCI was not covered by privilege.