Business Services Industry
Former governors step in to assist Bank of England.
Knight Ridder/Tribune Business News, September, 2004
By Nick Moss, Daily Mail, London Knight Ridder/Tribune Business News
Sep. 27--The Bank of England is to call on former governors as it defends its role in the collapse of the Bank of Credit and Commerce International.
Sir Eddie George, Lord Kingsdown and Lord Richardson will be among 12 witnesses called to defend the Old Lady of Threadneedle Street's supervision of the bank.
The UKpound 1 billion lawsuit -- which reopens in the High Court today -- accuses the Bank of deliberate wrongdoing. It is being brought by BCCI's liquidator, accountant Deloitte & Touche.
Judge Mr Justice Tomlinson is set to call on both sides to speed up the case. Gordon Pollock QC's opening argument against the Bank took a record six months. Combined...
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