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BCCI creditors also instituted a $1 billion suit against the Bank of England as a regulatory body. After a nine-year struggle due to the Bank's statutory immunity, the case went to trial in January 2004. However in November 2005 liquidators Deloitte dropped any action against the Bank of England as it was no longer considered in the best interests of the creditors after a High Court ruling.
The Crash - The coming financial collapse of America
The liquidators of Bank of Credit and Commerce International suddenly dropped their unprecedented £850m lawsuit against the Bank of England yesterday in what was described as the "most remarkable and humiliating climbdown" in English legal history.
THE PROVOST MARSHAL MAY RESORT TO MARTIAL LAW
FUNDS MOVED INTO A FICTITIOUS ACCOUNT AT MORGAN STANLEY