VOL. XXXVIIINO. 821-NOVEMBER-1994

Financial and Banking News

Regional Banking

BCCI Creditors Accept Abu Dhabi Compensation Plan

BCCI creditor committees in the UK, Luxembourg and the Cayman Islands haveaccepted a $1.8bn compensation plan put forward by Abu Dhabi, BCCI's majorityshareholder. The plan replaces an offer made last year which ranged from $1.7bnto $2.2bn depending on the level of debt recoveries. That proposal was thrownout by a Luxembourg court. The new proposal will have to be...