BusinessBusiness RecoveryBank launches £80m claim against Deloitte

Bank launches £80m claim against Deloitte

Deloitte faces claim for £80m costs from the Bank of England over BCCI case

The Bank of England starts a claim today for £80m from Deloitte in a case
that represents one of the biggest claims for costs in English legal history.

The case follows the collapse last year of a £850m claim against the Bank by
Deloitte, which was handling the liquidation of the Bank of Credit and Commerce
International 

A judge refused an application from Deloitte for a cooling off period to
allow each side to reach an agreement over costs, but Mr Justice Tomlinson
instead ruled that a four-day hearing should begin today.

The Bank of England is claiming costs on an indemnity basis which is regarded
as one of the most punitive ways to pursue costs, The Guardian reports
today.

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