A win against the executives would strengthen Abu Dhabi's position following the rejection of its original dollars 1.7bn compensation plan by the Luxembourg courts. The emirate is cutting a new deal with BCCI's liquidators, Touche Ross, who discussed the civil suit with the Abu Dhabi authorities last week.
Success would also help salvage Abu Dhabi's reputation among BCCI's depositors, many of whom blame the majority shareholders. But its protestations should be taken with a pinch of salt. Regardless of the outcome of the civil suit, BCCI's creditors quite rightly say that the people best placed to detect the massive long-term fraud that caused BCCI's downfall were the owners - Abu Dhabi.Reuse content