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Protesters in UK say Dechert's representation of "vulture funds" harms poor countries, call profits from "vulture" cases "shameful"

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Company non-response
10 March 2010

Dechert did not respond to: Protesters in UK say law firm Dechert's representation of "vulture funds" harms poor countries, call profits from "vulture" cases "shameful".

Article
24 February 2010

'Cake Sale' outside Vulture Fund law firm [UK]

Author: Jubilee Debt Campaign

This morning a group of campaigners from Jubilee Debt Campaign arrived outside Dechert LLP with an assortment of cakes, a large folding table and some vulture puppets. The stunt was designed to raise employee awareness of the representations provided to vulture funds by Dechert… [We] unfurled a banner requesting that Dechert desist from feeding the vultures… Having providing many Dechert employees with a piece of cake and some troubling facts we headed back to the Jubilee office to continue the final push to get the Vulture Funds Private Member’s Bill through its second reading on Friday .

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Article
24 February 2010

'Don't feed the vultures' say campaigners with cake sale stunt [UK]

Author: Ekklesia [UK]

Global poverty campaigners staged a 'charity cake sale' this morning outside the London offices of…[Dechert LLP] which represents ‘vulture funds’. The stunt…was intended to raise money to help wean the company “off the unprincipled money they make through vulture cases”. Vulture funds…seek to profit by buying distressed debt belonging to companies or countries on the secondary market at a steep discount, then seeking to make a profit by claiming back the original debt and more…Parliament is due to vote on legislation to curb the ability of vulture funds to sue through the British courts. Last November, Dechert represented two funds in the High Court…, winning a $20 million award against Liberia, one of the poorest countries in the world. Dechert opposed [the legislation], on behalf of several hedge funds, telling a Government consultation that legislation would be “unfair” and “unprincipled”. Nick Dearden, Director of Jubilee Debt Campaign said:…"Vulture funds are anathema to anyone interested in fighting global poverty, and making money from vulture cases is shameful behaviour.” [also refers to Dechert clients Elliott Associates, Kensington International, NML] [Business & Human Rights Resource Centre invited Dechert to respond, but it declined]

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