VOL. XLI
No. 30
27-July-1998
UAE
BCCI Creditors Receive Second Payout
The liquidators of the collapsed Bank of Credit and Commerce International (BCCI),Deloitte and Touche, announced on 21 July that UAE-based depositors who have completed thenecessary formalities have started to receive a second payout of 21.5% of their deposits.The first payment, made in 1996, gave depositors who had claims not exceeding Dh20,000($5,445) full payment, while those with higher amounts received 24.5% (MEES, 20...
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