Early day motion tabled by primary sponsor Sally Keeble (Labour), on Wednesday, 6 May 2009, in the House of Commons. It is signed by 203 members in total.

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REGULATION OF VULTURE FUNDS

That this House expresses concern at the activities of vulture funds which seek to profiteer from the defaulted debts of developing countries; notes that the international community has already deemed many of these countries' debts unsustainable and agreed to cancel them; further notes the continuing actions brought by vulture funds which try to claim payment via international trade and even aid transactions with poor countries; is concerned at the use of UK courts for a high proportion of these cases; welcomes the work by the Jubilee Debt Campaign to highlight the activities of the vulture funds; supports the provisions of the Developing Country Debt (Restriction of Recovery) Bill introduced, with the support of a cross-party group of hon. Members, by the hon. Member for Northampton North to limit the activities of vulture funds; and calls on the Government to support this bill.

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Secondary information

Type

Early day motion

Reference

1440 

Session

2008-09

Other sponsors

Tony Baldry

David S Borrow

David Anderson

Lee Scott

Baroness Kramer

Subjects

Developing countries Financial services

Link

View this Early day motion on www.parliament.uk