Final curtain for long running BCCI 'farce'

A full and final settlement was agreed on Wednesday 7 June on costs in the proceedings brought by the Liquidators of BCCI against the Bank of England.

The Bank will retain £73.6 million paid to it by the Liquidators in November 2005, together with the interest on that amount which has accrued since of £1.7 million.

A Bank spokesman said: "This is an excellent result which allows us to draw a final line under the BCCI case. Without this settlement, there could have been several years of assessment

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