BANKING & FINANCE - Jan. 24, 1992
From Times Staff and Wire Reports
Judge Upholds BCCI Plea Agreement: U.S. District Judge John F. Keenan refused to block a plea agreement between Bank of Credit & Commerce International and federal regulators, clearing the path for final approval of the deal. Keenan refused a request from BCCI’s creditors to issue a temporary restraining order that would prevent forfeiture of $550 million of BCCI’s assets. Keenan’s ruling upheld a Jan. 8 order by U.S. Bankruptcy Judge James Garrity, who also rejected the creditors’ request. Attorneys for insurance underwriters Lloyd’s of London, a BCCI creditor, immediately appealed Keenan’s ruling.
