Central Banking

BoE in court over handling of BCCI

The liquidators of BCCI, Deloitte & Touche, are pinning their hopes on a famous victory in their battle against the Bank of England this year - the case begins in a week's time. The liquidators are claiming up to £1bn in damages for the BoE's handling of BCCI, which collapsed in 1991.

If the bank lost, the Treasury would have to foot a large bill, but it seems most unlikely that this possibility would persuade Gordon Brown, the UK to push for an out-of-court settlement. The Bank can be relied