BCCI creditors are seeking documents that should reveal what Ministers, civil servants and regulators knew about the bank before it crashed in 1991 with debts in excess of £10bn. A decision will be made later this month following last week's High Court hearing.
The papers are thought to be vital evidence for BCCI liquidator Deloitte & Touche and the creditors who are in the process of suing the Bank of England for £1bn, claiming that the Bank should have acted earlier to close down operations.
The Guardian reports that the Government has already spent more than £10m in legal fees on the case.
BCCI Court Decision Awaited
The Guardian reports that UK Treasury officials are nervously awaiting a High Court decision which may mean that they have to release secret information about the Government's role in the collapse of the Bank of Credit and Commerce International (BCCI).
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