Creditors not pursuing Deloitte over BBCI

No action is being taken by creditors against Deloitte for its failed attempt
to recover almost a billion pounds from the Bank of England over the
institution’s regulation of BCCI.

Liquidators had sought to recover £850m from the bank, after the litigation
collapsed in December, with some claiming Deloitte itself could now have to pick
up part of the bank’s £81m costs.

‘I am not aware of any action being taken against Deloitte. No action is
being taken by us,’ a spokesman for Three Rivers District Council, a creditor of
BCCI, told Accountancy Age.

Three Rivers was the named creditor in the Bank of England action, and any
attempt to recover money from Deloitte, possibly through a negligence action,
would have to come from creditors.

Creditors are thought to have been broadly happy with Deloitte’s work, with
more than 80p in the pound recovered.

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