NO. 43


Financial and Banking News


UK Court Postpones Winding Up Order on BCCI

BCCI shareholders trying to prevent the liquidation of the bank's UKoperations have been given until 30 July to present a rescue package. A Britishcourt sitting on 22 July refused a request from the Bank of England to wind upthe bank immediately and gave shareholders and depositors' groups eight days tocome up with an alternative. The Bank of England has made clear that it believesthe bank...