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Home | Vulture Fund

 

Vulture funds and debt relief the immoral tactics of vulture funds: the case of Zambia. “What they are and what you can do about it”

  • It is immoral for Donegal to ask for a profit of several millions dollars (US$ 55 million) over and above the price (US$ 3.3 million) it paid for the debt from Romania.

  • Debt repayments to Donegal International will upset Zambia’s fiscal stability and ability to deliver public services. 

  • We agree with Judge Smith of the London court that Mr. Sheehan and his agents did not act very honestly in the acquisition of this debt. 

  • As Jubilee movements, we are convinced that the purchase of the debt undermines and erodes the full intended benefits from debt relief arrangements initiated through the Highly Indebted Poor Country Initiative (HIPC) and the Multi-lateral Debt Relief Initiative (MDRI) Read more...

Visit:
http://www.jubileedebtcampaign.org.uk/vultures

 

 
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"Vulture Fund" Campaign

2 Years After Gleneagles Promises on Debt, Vulture Funds Undermining G8 Debt Deal 06 June 2007 Campaigners demand immediate G8 action to declare Vulture Fund profiteering illegal

The vulture fund finally bites Zambia and flies away, who next? Jubilee - Zambia statement on the vulture fund judgment requiring Zambia to pay US$ 15.5 million to Donegal International 26th April 2007

The vultures are hovering! Probably the hardest lesson to learn right now is that the Zambian people will have to suffer at the hands of past dishonest activities and present vulture greed. 24 April 2007

 

 

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