Malik v BCCI SA; Mahmud v BCCI SA

Abstract

These two appeals arose out of the 1991 collapse of BCCI and were brought by two former employees of BCCI in London who had both lost their jobs as a result of the collapse. Mr Malik had worked for BCCI for 12 years, his last position being head of deposit accounts and customer services at BCCI's Leadenhall branch. Mr Mahmud had 16 years service with the bank and was manager of the Brompton Road branch at the time he lost his job. They claimed that as well as losing their jobs they had suffered damage to their reputations, and thus future employability, as a result of their association with BCCI. In all the courts through which the claims passed the liquidators agreed that the actions should proceed upon the basis of a set of agreed facts (although the liquidators made no admission of the veracity of those facts) namely

Citation

Goff, Mackay, Mustill, Nicholls, Steyn and Gray, J. (1998), "Malik v BCCI SA; Mahmud v BCCI SA", Journal of Financial Regulation and Compliance, Vol. 6 No. 1, pp. 77-80. https://doi.org/10.1108/eb024959