BANKING & FINANCE - Sept. 4, 1991
From Times Staff and Wire Reports
BCCI Unit Gets Deadline for Rescue Plan: A court in George Town, Cayman Islands, a Caribbean banking haven, granted the owners of the scandal-ridden Bank of Credit & Commerce International three months to come up with a rescue plan to avoid liquidation. Authorities set a deadline of Dec. 2 for the plan to be worked out and presented in court. The hope is that Abu Dhabi, which has a 77.4% stake in the parent firm, will pump more money into the bank and offer some coverage to thousands of depositors around the world facing losses.
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