01 July, 2009

African plan to keep vulture funds at bay

Financial TImes, William Wallis and Michael Peel
The Africa Legal Support facility will provide funding and advice so that African governments are not at a disadvantage for lack of top level legal representation when subject to predatory debt claims. So-called vulture funds have provoked growing international criticism by launching lawsuits – many of them in courts in the US and Britain – to force repayment of poor country debt they have bought at heavily discounted prices on world markets.

0 comments: