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Uk Court Throws Out Bcci Claim

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A judge in the London High Court on Wednesday struck out claims totalling 550 million pounds ($896 million) by the liquidators of Bank of Credit and Commerce International (BCCI) against the Bank of England. The liquidator, accountancy firm Deloitte & Touche, said it was disappointed by the ruling and is considering an appeal. The Bank welcomed the judgement. UK court throws out BCCI claim against BOE The claim, an amalgamation of the claims of around 6,000 depositors of the collapsed bank, stemmed from the Bank of Englands role as regulator and its duties towards depositors, banks and the public. BCCI collapsed in 1991 with debts of more than $12 billion of which depositors have received back just over $2.0 billion so far from the liquidation.

 

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First Published: Jul 31 1997 | 12:00 AM IST

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