#05-18
BCCI & Barings: Bank Resolutions Complicated by Fraud and
Global Corporate Structure
Richard J. Herring
Abstract:
Although countries differ with regard to bankruptcy procedures, there appears to
be widespread agreement on the goals that such procedures should accomplish. This
paper draws on the examples of two international banks that failed due to fraud, the Bank
for Credit and Commerce International (BCCI) and Barings, to show how fraud and a
global corporate structure can undermine the effectiveness of bankruptcy procedures in
achieving these goals.
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