abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb
Article

15 Feb 2007

Author:
Ashley Seager, Guardian [UK]

'Vulture' feeds on Zambia

A so-called "vulture" fund has been given permission by a British court to enforce a claim for tens of millions of dollars theoretically owed by Zambia. The decision was immediately slammed by campaign groups who demanded that governments of rich countries moved to stop such funds reclaiming debt from poor countries who had supposedly already had their debts written off. The high court ruled that a claim against Zambia by...Donegal International, owned by US citizen Michael Sheehan...was lawful.