Upcoming Events

International | Crime and Justice

no events match your query!

New Events

International

no events posted in last week

Blog Feeds

Anti-Empire

Anti-Empire

offsite link North Korea Increases Aid to Russia, Mos... Tue Nov 19, 2024 12:29 | Marko Marjanovi?

offsite link Trump Assembles a War Cabinet Sat Nov 16, 2024 10:29 | Marko Marjanovi?

offsite link Slavgrinder Ramps Up Into Overdrive Tue Nov 12, 2024 10:29 | Marko Marjanovi?

offsite link ?Existential? Culling to Continue on Com... Mon Nov 11, 2024 10:28 | Marko Marjanovi?

offsite link US to Deploy Military Contractors to Ukr... Sun Nov 10, 2024 02:37 | Field Empty

Anti-Empire >>

Human Rights in Ireland
Promoting Human Rights in Ireland

Human Rights in Ireland >>

Lockdown Skeptics

The Daily Sceptic

offsite link Trump?s ?Drill, Baby, Drill? Energy Policy Will Enjoy the Enthusiastic Support of the Global South Sun Jan 19, 2025 17:00 | Tilak Doshi
Tilak Doshi says Trump's "drill, baby, drill" energy policy may not be popular in Davos, but will be welcomed by leaders in the Global South, fed up with being lectured about carbon emissions by rich Western countries.
The post Trump?s ?Drill, Baby, Drill? Energy Policy Will Enjoy the Enthusiastic Support of the Global South appeared first on The Daily Sceptic.

offsite link ?There is a Pakistani Problem and we Must Root it Out,? Says Head of Equality and Human Rights Commi... Sun Jan 19, 2025 15:00 | Toby Young
The head of the Equality and Human Rights Commission has written an excellent comment piece for the Sunday Times urging the Government to hold a proper full inquiry into the rape gangs scandal.
The post ?There is a Pakistani Problem and we Must Root it Out,? Says Head of Equality and Human Rights Commission appeared first on The Daily Sceptic.

offsite link Why is Lord Hermer Trying to Politicise the Rule of Law? Sun Jan 19, 2025 13:00 | Raymond Wacks
Retired law professor Raymond Wacks questions Lord Hermer's new, expanded definition of the 'Rule of Law' to include 'human rights'. Is it a ruse to increase the power of human rights lawyers?
The post Why is Lord Hermer Trying to Politicise the Rule of Law? appeared first on The Daily Sceptic.

offsite link How the Blob Uses Public Sector Procurement Frameworks to Enforce Compliance With Woke Ideology Sun Jan 19, 2025 11:00 | C.J. Strachan
C.J. Strachan documents the way in which the Civil Service enforces compliance with woke ideology by forcing private companies that want to bid for public sector contracts to attend EDI training courses.
The post How the Blob Uses Public Sector Procurement Frameworks to Enforce Compliance With Woke Ideology appeared first on The Daily Sceptic.

offsite link New Research Paper Contains Evidence That the mRNA Covid Vaccines Damages Human Heart Cells Sun Jan 19, 2025 09:00 | Dr David Livermore
A new research paper contains evidence that the mRNA Covid vaccines cause heart damage at the cellular level, writes David Livermore, former professor of medical microbiology at the University of East Anglia.
The post New Research Paper Contains Evidence That the mRNA Covid Vaccines Damages Human Heart Cells appeared first on The Daily Sceptic.

Lockdown Skeptics >>

Voltaire Network
Voltaire, international edition

offsite link Voltaire, International Newsletter N?116 Sat Jan 18, 2025 06:46 | en

offsite link After the United Kingdom, Germany and Denmark, the Trump team prepares an operat... Sat Jan 18, 2025 06:37 | en

offsite link Trump and Musk, Canada, Panama and Greenland, an old story, by Thierry Meyssan Tue Jan 14, 2025 07:03 | en

offsite link Voltaire, International Newsletter N?114-115 Fri Jan 10, 2025 14:04 | en

offsite link End of Russian gas transit via Ukraine to the EU Fri Jan 10, 2025 13:45 | en

Voltaire Network >>

Vulture Funds. What are they?

category international | crime and justice | news report author Thursday February 15, 2007 17:00author by Martin Report this post to the editors

A vulture fund is a company that buys a poor nation's debt on the cheap and then sues that nation for the full value of the original loan plus interest.

The whole concept of a so-called vulture fund is news to me and something that I wanted to share here on Indymedia.ie. A vulture fund is, according to the IMF, a company that buys a poor nation's debt on the cheap and then sues that nation for the full value of the original loan plus interest.

A British Virgin Islands-based company called 'Donegal International', which is part owned by an American company called DAI (Debt Advisory International), is one such vulture fund that is currently making headlines. Here's the story:

In 1979, the Romanian government lent Zambia money to buy Romanian tractors. Zambia later defaulted, unable to maintain loan repayments, and in 1999 a settlement of $3 million dollars was agreed.

Before the deal was finalised, Donegal International bought the debt from Romania for less than $4 million and sued Zambia for the princely sum of $42 million. A British High Court judge ruled in favour of Donegal International, but has not yet ruled on how much Zambia must actually pay.

Reference:
BBC (2007) Zambia loses 'vulture fund' case [Online]. Available from: http://news.bbc.co.uk/2/hi/business/6365433.stm

Additional Information:
I have so far been unable to find a website address for Donegal International.

 #   Title   Author   Date 
   DAI - Clarification..     Gman2k    Mon Feb 19, 2007 10:27 
   Donegal International (continued)     MichaelY    Mon Feb 19, 2007 10:44 
   how money works..,     stan    Wed Feb 21, 2007 00:01 


 
© 2001-2025 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy