CentralBankNet Monday Special Feature

The BCCI case has been looming over the Bank of England since 1991, but at last it looks as though the showdown in court is to begin in January 2004. The Bank has been trying to put it off further, but it looks unlikely to succeed. In some respects this may not be such a bad thing: the Bank has poured some £20m into defending its corner, and it has now come to light that lately the Bank has been paying out at the rate of £1m a month in legal bills.

The Bank originally dismissed the case out of

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