hide message

Welcome to the Resource Centre

We make it our mission to work with advocates in civil society, business and government to address inequalities of power, seek remedy for abuse, and ensure protection of people and planet.

Both companies and impacted communities thank us for the resources and support we provide.

This is only possible because of your support. Please make a donation today.

Thank you,
Phil Bloomer, Executive Director

Donate now hide message

You are being redirected to the story the piece of content is found in so you can read it in context. Please click the following link if you are not automatically redirected within a couple seconds:

How top London law firms help vulture funds devour their prey

Author: Ashley Seager & James Lewis, Guardian (UK), Published on: 17 October 2007

…Vulture funds buy up sovereign debt issued by poor countries at a fraction of its face value, then sue the countries in courts…for their full face value plus interest… A paper prepared for the IMF/World Bank meetings this week shows there are now $1.8bn of lawsuits against poor countries… [T]he report…shows that of the 24 countries that have received debt cancellation under the Heavily Indebted Poor Countries initiative, 11 have been targeted for legal action by private creditors… Top London law firms [refers to Allen & Overy (A&O), Weil Gotshal, Dechert] are reaping the benefits from bringing many of the vulture funds' cases to court in London… [includes comments by Allen & Overy, Dechert, and Weil Gotshal; also refers to Donegal International, Elliott Associates, Walker International, Biwater, Kensington International]

Read the full post here

Related companies: Allen & Overy Biwater Dechert Elliott Management Weil, Gotshal & Manges