The most expensive battle in UK legal history has come to an end, with Lovells client, BCCI’s creditors, this morning (2 November) withdrawing its action against the Bank of England.

The dispute, which has been running for more than a decade and has racked up legal bills of around £100m, was ended with a notice of discontinuation, following a hearing with the chancellor of the High Court over the last few days. The chancellor concluded it was no longer in the creditors’ interests to continue.