BCCI creditors offered paymentThe government and ruling...

BUSINESS DIGEST

March 11, 1994

BCCI creditors offered payment

The government and ruling family of Abu Dhabi, the biggest shareholder in now-collapsed BCCI, yesterday offered a new $1.8 billion proposal to pay creditors of the rogue bank.

A previous offer valued at $1.7 billion was approved by a big majority of BCCI shareholders. But a court in Luxembourg killed the deal because the terms seemed too favorable to Abu Dhabi, an oil-rich member of the United Arab Emirates.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.