[video] DR Congo threatened by vulture fund loop hole

Author: Greg Palast, BBC Newsnight, Published on: 17 November 2011

Previous Newsnight reports on vulture funds - which buy up debt cheaply and then sue developing countries for vast amounts - got the laws in the UK changed. As a result, the vultures now cannot use UK courts. But they have found a way around the ban by filing lawsuits in the island of Jersey. [Transcript:] A financial speculator, known as a vulture, has blocked Congo from receiving 100 million dollars owed to the African nation. He says that money is owed to him...[UNICEF representative] 100 million dollars would save 200'000 children...How did a New York vulture end up claiming 100 million dollars on a 3 million dollar debt from one of the world's poorest countries?...[also refers to FG Hemisphere, China Railway]

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