More NewsCreditors not pursuing Deloitte over BBCI

Creditors not pursuing Deloitte over BBCI

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

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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