PracticeConsultingDeloittes pushes on with debt recovery after court victory over BCCI

Deloittes pushes on with debt recovery after court victory over BCCI

Deloitte & Touche, liquidators of BCCI, said they intended to pursue 'virorously' a judgement freezing the assets of Mustafa and Murtaza Gokal, the brothers of jailed BCCI fraudster Abbas Gokal.

The pair have had their worldwide assets frozen after the High Court handed down a $750 million (£470 million) civil judgment against them, according to reports today.

The Gokal brothers’ Gulf Group was the biggest debtor of the failed bank, which was closed down in 1991.

Mustafa Gokal was a minister in the government of the Pakistani dictator General Zia between 1977 and 1980, and he and Murtaza are resident in Pakistan.

A confiscation order has already been served on Abbas, who is serving a 14-year sentence in Whitmore prison.

Creditors of the failed bank are already set to receive more than 50p in the pound following the settlement with the bank’s biggest shareholder, the Sheikh of Abu Dhabi.

Big Five – JDS opens BCCI inquiry into Price Waterhouse

Insolvency – Deloittes appeals over BCCI case

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer