Mervyn King, the governor of the Bank of England, has claimed that the case
bought by liquidators from Deloitte over BCCI, demonstrated that the UK legal
system is unable to bring quick resolutions to commercial disputes.
Speaking at the annual Mansion House dinner he described Deloitte’s case
against the Bank for its regulation of BCCI as the ‘most expensive fishing
expedition in history’.
Deloitte acted as liquidators of BCCI and brought the case claiming the Bank
was guilty of misfeasance in public office for its failure to properly regulate
Deloitte eventually dropped the claim with the Bank being award £73m in
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies