BCCI Liquidators Announce Fourth Dividend For Creditors
Liquidators for the collapsed Bank of Credit and Commerce International (BCCI) announced on 21 May that creditors are to get a fourth dividend (due late June) of $1.2bn or 15% of the current $8.2bn claims. So far creditors have been paid 75% or $5.7bn. BCCI, which was majority owned by Abu Dhabi was closed in July 1991 after the Bank of England uncovered global fraud. More payouts are expected after chief...