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Stop Vulture Fund Lawsuits

A Handbook

image of Stop Vulture Fund Lawsuits

Vulture funds, funds that buy up the debt of sovereign countries at a discount in the hope of making significant profits, have caused considerable problems to a number of highly indebted countries. The Commonwealth Secretariat’s Legal Debt Clinic advises governments on best practice in negotiating loan agreements, and how to respond to the activities of vulture funds. This handbook distils the key lessons from that work, for the benefit of all government officials who may have to deal with these issues.

English

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Loan Agreements

Vulture funds are successful because courts enforce their right to collect the full value of a debt as stipulated in the loan agreement. Nearly all the arguments used to justify enforcement of the funds’ rights are found in the different clauses of the agreement entered into when the loan is assigned from the primary lender to the vulture fund.

English

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