On 5 July 1991 western central banks announced their decision to abruptly shut down the Bank of Credit and Commerce International (BCCI), a multi-national bank with an international structure. The Abu Dhabi, UAE, majority shareholders considered the action was unjustified.
Claims of the former employees of Bank of Credit and Commerce International, court proceedings, judgements, settlements, articles and other related documents.
- HOUSE OF LORDS: BANK OF CREDIT AND COMMERCE INTERNATIONAL SA (IN COMPULSORY LIQUIDATION) (APPELLANT) v. MUNAWAR ALI, SULTANA RUNI KHAN AND OTHERS (RESPONDENTS): on the appeal by the liquidators against a decision of the Court of Appeal ([2000] ICR 1410) reversing a decision of Lightman J ([1999] ICR 1068). These decisions were made on an issue ordered to be tried to determine the effect, validity and enforceability of an agreement made between the bank and certain of its employees about a year before application was made for the winding up of the bank. Judgment 1 March 2001.
- HOUSE OF LORDS: MALIK (A.P.) (APPELLANT) v. BANK OF CREDIT AND COMMERCE INTERNATIONAL S.A. (IN COMPULSORY LIQUIDATION) (RESPONDENTS): MAHMUD (A.P.) (APPELLANT) v. BANK OF CREDIT AND COMMERCE INTERNATIONAL S.A. (IN COMPULSORY LIQUIDATION) (RESPONDENTS): that Mr. Mahmud and Mr. Malik were innocent of any involvement, that following the collapse of B.C.C.I. its corruption and dishonesty became widely known, that in consequence Mr. Mahmud and Mr. Malik were at a handicap on the labour market because they were stigmatised by reason of their previous employment by B.C.C.I., and that they suffered loss in consequence. Judgement 12 June 1997.
