Bank of England may face massive legal claim

UK - The Bank of England has admitted it faces claims of up to £872m from depositors of the Bank of Credit and Commerce International if it loses a landmark legal battle due to start next year.

The potential cost, disclosed in the Bank's annual report, is accompanied by an escalating legal bill as it prepares its defence against the legal action brought by BCCI's liquidators.

BCCI collapsed in 1991 owing $10bn in the world's largest banking fraud.

The Bank said the liquidators' best estimate of

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