Vulture Funds

We know vulture funds, those that buy bad debt from bankrupt countries for pennies and then pursue them through international courts to recover the full amount making obscene profits and damaging any possibility of economic recovery for the countries in…

With the title ‘How hedge funds held Argentina for ransom’ Martin Guzman and Joseph E. Stiglitz (*) state: ‘Perhaps the most complex trial in history between a sovereign nation, Argentina, and its bondholders — including a group of United States-based…

How billionaire Rubio backer Paul Singer made billions off Argentina debt crisis Argentina has reached an agreement to pay U.S. hedge funds that have sought for 14 years to profit off the country’s debt. The hedge funds bought up Argentina’s…

By Juan Pablo Bohoslavsky and Alfred de Zayas for ALAI In the context of the Argentinean Congress discussing the implications of a proposed agreement between Argentina and hedge funds, the Independent Expert on the effects of foreign debt on human…

In June 2015 the Jubilee Debt Campaign explained: ‘Argentina’s economy is being held to ransom by a small handful of very wealthy speculators – so-called ‘vulture funds’. ‘A New York court has awarded two US vulture funds a $1.3 billion…

Buenos Aires, Sep 17 (Prensa Latina) After the approval at the UN of principles on restructuring debts, Argentina scored another point with a favorable ruling by the Court of Appeals of New York in the litigation with vulture funds. That…

Jubilee Debt Campaig The United Nations General Assembly has passed a resolution to create new legal rules to stop financial speculators like vulture funds from undermining debt restructurings. The motion, passed by 124 votes to 11, has decided that the…

According to Telam, The Central Bank of the Argentine Republic (BCRA) revoked BoNY (Bank of New York Mellon) authorization to operate in Argentina, based on the fact that payment to the restructured bondholders was not carried out, said the Cabinet…

Analysis by Ellen Brown SONOMA, California, Aug 14 2014 (IPS) – Argentina has now taken the U.S. to The Hague for blocking the country’s 2005 settlement with the bulk of its creditors. The issue underscores the need for an international…

Argentina has taken steps to sue the United States at the International Court of Justice over a debt dispute that sent the country into default. In a petition to the U.N. tribunal, Argentina accuses U.S. courts of violating its sovereignty…