BusinessBusiness RecoveryDeloitte pays back 90% to BCCI creditors

Deloitte pays back 90% to BCCI creditors

Deloitte & Touche, liquidator for failed bank BCCI, has returned around 90% of funds raised to protect depositors.

Link: Government to hand over BCCI documents

The money has been returned to the 400 financial firms that contributed to a fund to help protect UK depositors when BCCI collapsed in 1992.

Some £73.3m has been refunded of the initial contribution of £80.3m. Deloitte expects to make one further payment to creditors but legal action could influence the sum paid.

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