BCCI case was built on air - not even sand

Publication of the formal judgment on Wednesday 12 April finally brought to an end the BCCI litigation case against the Bank of England described as a myriad of "hopeless inconsistencies and implausibilities".

The judge, Stephen Tomlinson, said he would offer guidance in support of the BoE's claims for costs to be awarded on an indemnity basis - the highest scale of costs and often seen as punitive.

"It is difficult to think of a case in which the entitlement to indemnity costs could more clear

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