Bank begins BCCI defence

Link: ‘Reckless’ Bank of England accused over BCCI

Liquidators Deloitte have accused the Bank of England of ‘misfeasance’ after BCCI collapsed owing creditors and depositors more than £10bn in 1991.

The case is likely to continue until early 2006, with legal bills that could run to nearly $200m (£107m), according to the BBC online.

It has so far lasted for three months.

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