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LUXEMBOURG BCCI RULING COULD JEOPARDISE FURTHER LEGAL ACTION

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The surprise Luxembourg ruling in October against collapsed bank BCCI's liquidators plans has now threatened to put...
The surprise Luxembourg ruling in October against collapsed bank BCCI's liquidators plans has now threatened to put new obstacles on access to documents vital to legal actions, reports the Financial Times (p8).

Background papers needed by the liquidators at accountants Touche Ross against BCCI's auditors and the Bank of England are held by the Abu Dhabi government.

The usually free access to these paper is could now be jeopardised now that liquidators may be forced either to ask Abu Dhabi for greater financial contribution for creditors or threaten to sue it. A senior professional is quoted in the paper fearing 'that the shutters will go up all round.'
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