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
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
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
Smith & Williamson has been appointed administrators of charity 4Children