NO. 37


Financial and Banking News

Regional Banking

English Court Backs Abu Dhabi Compensation Plan for BCCI

A British court has approved a compensation plan backed by Abu Dhabi andBCCI's liquidators which will give BCCI depositors 30-40% of the money they lostas a result of the bank's closure in July 1991. But the court, which gave itsjudgment on 12 June, has given creditors who opposed the plan leave to appeal.Any compensation plan has to be approved by the court as well as...