Comment: BCCI case 'a farce'

According to the presiding judge, the case brought against the Bank of England by Deloitte, liquidators for the Bank of Credit and Commerce International (BCCI), was "a farce" which "had the capacity to damage the reputation of [the British] legal system".

COMMENT BY CENTRALBANKNEWS

The ordeal started when the BCCI was closed down by the Bank of England, owing £9 billion. Deloitte announced its intention to go to court in 1993, seeking £1bn in damages for BCCI creditors and claiming the bank

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