Bank of England rejects BCCI settlement offer

The Bank of England said on Tuesday 4 October that it had rejected a recent approach to settle a £1 billion lawsuit involving the collapse of Bank of Credit and Commerce International (BCCI).

"We've always made clear there would be no deal and no negotiations," a spokesman for the Bank of England said on Tuesday according to Reuters.

A spokesman for the liquidators was quoted by Reuters as saying several approaches had been made to the Bank to settle, with the last made before the main witness