The Guardian reports that UK Treasury officials are nervously awaiting a High Court decision which may mean that they have to release secret information about the Government's role in the collapse of the Bank of Credit and Commerce International (BCCI).
BCCI creditors are seeking documents that should reveal what Ministers, civil servants and regulators knew about the bank before it crashed in 1991 with debts in excess of £10bn. A decision will be made later this month following last week's High Court hearing.
The papers are thought to be vital evidence for BCCI liquidator Deloitte & Touche and the creditors who are in the process of suing the Bank of England for £1bn, claiming that the Bank should have acted earlier to close down operations.
The Guardian reports that the Government has already spent more than £10m in legal fees on the case.