Bank of England demands costs for legal case

The Bank of England is making a demand for costs of up to £80 million for legal costs incurred defending the failed £850 million lawsuit by accountancy giant Deloitte, liquidator of the scandal hit Bank of Credit & Commerce International.

The case will open in the High Court on 30 January, and could involve more than a year of work, sending the bill even higher.

Deloitte claimed "misfeasance in public office," alleging the Bank of England had not only been incompetent in its supervision of BCCI

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