RSS feedsNo action is being taken by creditors against Deloitte for its failed attempt to recover almost a billion pounds from the Bank of England over the institution’s regulation of BCCI.
Liquidators had sought to recover £850m from the bank, after the litigation collapsed in December, with some claiming Deloitte itself could now have to pick up part of the bank’s £81m costs.
‘I am not aware of any action being taken against Deloitte. No action is being taken by us,’ a spokesman for Three Rivers District Council, a creditor of BCCI, told Accountancy Age.
Three Rivers was the named creditor in the Bank of England action, and any attempt to recover money from Deloitte, possibly through a negligence action, would have to come from creditors.
Creditors are thought to have been broadly happy with Deloitte’s work, with more than 80p in the pound recovered.
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