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A full and final settlement has been agreed on costs in the proceedings brought
by the Liquidators of BCCI against the Bank of England.
The Bank will retain £73.6 million paid to it by the Liquidators in November
2005, together with the interest on that amount which has accrued since of £1.7
million.
A Bank spokesman stated: "This is an excellent result which allows us to draw a
final line under the BCCI case.
"Without this settlement, there could have been several years of assessment
hearings which would have added millions more in costs."
Source:
RedAlert
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