The conduct of the liquidation of the Bank of Credit and Commerce International SA is a matter for the liquidators.
The liquidators will shortly be submitting their annual report to the Secretary of State covering the 12-month period to 15 January 2007.
The liquidators are making every effort to conclude the liquidation and pay final amounts to creditors as soon as possible, however, the English liquidation is one of several worldwide that are closely linked and only when they are all substantially complete will it be possible for a formal conclusion in this country.
BCCI’s has been one of the most complex liquidations ever, which has resulted in exceptional returns to creditors, who will have received 84 per cent. of what they are owed by the end of 2007. This case has shown how the liquidation process can benefit from the close involvement of creditors in assisting liquidators to carry out their functions.