They believe the bank, brought down by rogue trader Nick Leeson, was in part responsible for their losses because of its alleged failure to properly supervise Barings, the Independent on Sunday reported yesterday, on the fifth anniversary of the bank’s £860m collapse.
Barings creditors have been watching the progress of action taken against the Bank of England by Deloitte & Touche, liquidators of the Bank of Credit and Commerce International.
Ernst & Young, liquidator to Barings, is pursuing action against Coopers & Lybrand, which acted as the 233-year-old bank’s auditor. The case is due to come to trial next year.
Last week a former senior manager at Barings, Ron Baker, lost appeal against moves by the DTI to have him disqualified as a director.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.