BCCI defence costing Bank of England £1m a month

The High Court in London heard on Monday that the Bank of England is spending more than £1m a month to fight allegations that it recklessly mishandled the regulation of BCCI.

Source: Financial Times

The Bank of England is spending more than £1m a month to fight allegations that it recklessly mishandled the regulation of Bank of Credit and Commerce International. The Bank had forked out £20m by last month, and expects to clock up a legal bill of more than £45m by the end of next year, its lawyer