VOL. XXXIX

No. 34

20-May-1996

UAE

Abu Dhabi Pays $1.55Bn To Liquidators Of BCCI

Following the passing of a deadline for appeals, the Government of Abu Dhabi on 14 May paid $1.55bn to the liquidators of the collapsed Bank of Credit and Commerce International (BCCI), Deloitte and Touche. The payment represents partial settlement of claims made against the Government of Abu Dhabi, formerly the largest shareholder in BCCI, while a further $250mn is being held in an escrow account for...