Thirteen years have passed since the liquidators of the Bank of Credit and Commerce International began their suit against the Bank of England.
The case finally came to court in January 2004. And now it has collapsed, after the two sides racked up legal bills of more than £100 million. . . .
[T]hroughout the case successive governors of the Bank [of England] have steadfastly rejected the allegations, accusing the liquidators Deloitte of launching a costly and wasteful action.
Now the Bank [of England] - which usually speaks in the most coded and measured language - is celebrating what it describes as the "unconditional surrender" of its opponent.
UPDATE: Landmark BCCI battle ends as liquidators abandon court fight