Deloitte pays Bank £73m in costs

Deloitte has paid the Bank of England £73m as an initial payment to settle
outstanding costs in the Bank of Credit and Commerce International case.

The Big Four firm, which is acting as liquidator, agreed to pay the Bank’s
full costs going back as far as 1993.

The Bank launched a high court claim for £80m in costs yesterday, which
includes £8m in interest.

Deloitte abandoned an £850m ‘misfeasance’ claim against the Bank over the
collapse of BCCI last year.

Related reading

tax dictionary