Wednesday, 16 November 2011

Britain urged to clamp down on 'vulture funds'

Britain urged to clamp down on 'vulture funds'
BRITAIN IS being urged to help close down a legal loophole that lets financiers known as “vulture funds” use courts in Jersey to claim hundreds of millions of pounds from the world’s poorest countries. The call came from international poverty campaigners as one of the vulture funds was poised to be awarded a $100 million (€74 million) debt payout against the Democratic Republic of Congo after taking action in the Jersey courts...
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