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BCCI LIQUIDATORS TO SEEK SIMPLER DEAL WITH ABU DHABI

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Touche Ross, the liquidator TO collapsed bank BCCI is to push for a far simpler agreement with the government of Ab...
Touche Ross, the liquidator TO collapsed bank BCCI is to push for a far simpler agreement with the government of Abu Dhabi on behalf of creditors, the Financial Times reports (p10).

A statement issued yesterday said: 'The liquidators intend to seek to re-establish a dialogue with Abu Dhabi with a view to determining whether any new plan can be developed for the benefit of BCCI creditors'.

Any new offer is likely to exclude previous proposals to share the proceeds of any litigation with Abu Dhabi or allow it to offset its debts to BCCI against the money it is owed by the bank, reports the paper.
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