TITLE

First the climbdown, now the costs. Was BCCI worth the money?

PUB. DATE
November 2005
SOURCE
Lawyer;11/14/2005, Vol. 19 Issue 44, p13
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article describes the mounting litigation cost of British lawyers related with Bank of Credit and Commerce International (BCCI). The article author says that it is highly costly to the defendants when the court proceedings continue for a longer period. He gives the example of the company Equitable Life who incurred $40 million in a court case with the company Ernst &Young. Bank of England has incurred the £75 million towards litigation cost and has made a provision of £23.5 million for the current financial year.
ACCESSION #
19667059

 

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