LONDON: Depositors in the defunct Bank-Credit and Commerce International arc expected to get back 20% of their money by mid1995 and a smaller amount over the next year. Most of the money is expected to come from the $1.8 billion that the majority shareholders in Abu Dhabi are offering to depositors. The BCCI creditors committee has decided not to challenge the new offer. It was legal action by creditors committee members in a court in Luxembourg that prevented the earlier agreement from going through. “We don’t think the new agreement is good enough. but we are supporting this.” Tony Scott, a member of the committee said.
Article extracted from this publication >> January 20, 1995
