Bank facing pounds 1bn case.The Bank of England Bank of England, central bank and note-issuing institution of Great Britain. Popularly known as the Old Lady of Threadneedle Street, its main office stands on the street of that name in London. was today facing the opening shots in a pounds 1bn High Court damages claim over its role in the collapse of BCCI in 1991. The Bank of Credit and Commerce International The Bank of Credit and Commerce International (BCCI) was a major international bank founded in Pakistan in 1972. At its peak, it operated in 78 countries, had over 400 branches, and claimed assets of $25 billion. had debts of more than pounds 9bn. Liquidators of BCCI claim the Bank of England "knowingly or recklessly" failed properly to supervise the rogue bank's activities. Creditors included Tyne and Wear Metro The Tyne and Wear Metro (known simply as the Metro) is a light rail metro system based around Newcastle upon Tyne and Sunderland, in the metropolitan county of Tyne and Wear in North East England. The network opened in 1980, and in 2005-2006 provided 36. operator Nexus, which had pounds 6.7 million invested with BCCI and Alnwick District Council which had pounds 1 million in the bank. Five years after the bank crash the Tyne and Wear Passenger Transport Executive The Tyne and Wear Passenger Transport Executive (TWPTE), using the brandname of Nexus, is the Passenger Transport Executive for the metropolitan county of Tyne and Wear, England. TWPTE is the operations arm of the Tyne and Wear Passenger Transport Authority (TWPTA). got a pounds 1.9m from a pounds 820m pay-out by liquidators and Alnwick got pounds 400,000. Maid denial BUCKINGHAM Palace today denied covering up an alleged attack on a royal maid by one of the Queen's staff. The woman, in her 20s, was allegedly beaten up by a man after a late-night drinking session in her room, the Daily Mirror reported. Bonus cuts LIFE insurer Norwich Union announced mixed fortunes for long-term savers today, cutting bonuses on some policies but maintaining them on others. Despite rising stock markets, payments on the majority of with-profits policies have been cut for the fourth time in two years, with some bonuses reduced to 0%. Death hearing THE brother of a British backpacker thrown off a bridge in Australia was at a pre-trial court hearing today for the man charged with her murder. Richard Stuttle was in Bundaberg Magistrates' Court for the committal hearing for Ian Previte, 31, accused of pushing Caroline Stuttle, 19, from York, off a bridge to her death in 2002. Ex-SS charged A COURT has charged three alleged ex-SS members with carrying out a 1944 massacre of 560 people in the Italian village of Sant'Anna di Stazzema. The three, all in their 80s, were said to be former members of an SS Panzergrenadier Division. Jackson talks MICHAEL Jackson's inner circle met at a Beverly Hills hotel The Beverly Hills Hotel is a hotel in Beverly Hills, CA, at 9641 Sunset Boulevard. It was opened on May 12, 1912 and started by Margaret J. Anderson and her son, Stanley S. Anderson, who had been managing the Hollywood Hotel. to look at his business affairs four days before his first court appearance on child sex charges. Cameras will not be allowed in the courtroom during Friday's court appearance, a judge has ruled. EUROPE'S largest mutual life insurer Standard Life today said it was considering a Stock Market flotation. The Edinburgh-based society said it was carrying out a review in the light of fundamental changes in the industry. |
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