PracticeAccounting FirmsGovernment to hand over BCCI documents

Government to hand over BCCI documents

The Treasury is desperately trying to stop MI6 handing over important documents to the creditors of the collapsed Bank of Credit and Commerce International, after the High Court ruled that it must disclose what it knew about the bank before it crashed in 1991.

Link: Cops and robbers toast BCCI

The documents due to be handed over to creditors, headed by Deloitte & Touche, include transcripts of interviews with former prime minister John Major and several former chancellors.

The group of creditors are suing the Bank of England for damages up to £1bn after claiming that senior officials there knew of fraudulent activity within the BCCI but turned a blind eye.

The government failed to overturn a High Court judgement in July that forced them to surrender related documents and last week found its recent application to withhold the MI6 papers for security reasons also rejected.

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