Stop Vulture Fund Lawsuits

A Handbook

Devi Sookun (Autor)

Buch | Softcover

140 Seiten

2010
Commonwealth Secretariat (Verlag)
978-1-84929-008-1 (ISBN)

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This handbook distils the key lessons on best practice in negotiating loan agreements, and responding to the activities of vulture funds - funds that buy up the debt of sovereign countries at a discount in the hope of making significant profit - for the benefit of all government officials who may have to deal with these issues.

Vulture funds, funds that buy up the debt of sovereign countries at a discount in the hope of making significant profits, have caused considerable problems to a number of highly indebted countries.

The Commonwealth Secretariat’s Legal Debt Clinic advises governments on best practice in negotiating loan agreements, and how to respond to the activities of vulture funds. This handbook distils the key lessons from that work, for the benefit of all government officials who may have to deal with these issues.

Devi Sookun is a Mauritian lawyer and formerly ran the Commonwealth Secretariat Legal Debt Clinic.

Abbreviations and Acronyms
Introduction

PART I Briefing

1. Vulture Funds
1.1 What is a vulture fund?
1.2 The rise of vulture funds
1.3 Legal rights of vulture funds

2. Loan Agreements
2.1 What is a loan agreement?
2.2 Structure of a loan agreement
2.3 Concepts under a loan agreement

3. Lawsuits
3.1 Legal defences available to a sovereign debtor
3.2 Legal arguments supporting vulture fund claims
3.3 Effects of lawsuits

PART II Actions and Responses

4. Negotiation
4.1 When is negotiation possible?
4.2 What is negotiation?
4.3 Negotiation methods

5. Debt Management
5.1 What is public debt management?
5.2 Why is public debt management important?
5.3 How to achieve effective debt management
5.4 Identifying loans which are targets for vulture funds

6. Responding to Lawsuits
6.1 Negotiation
6.2 Contractual terms
6.3 ‘Name and shame’ campaigns
6.4 Legal support for sovereign debtors

PART III Challenges and Solutions

7. Legislation
7.1 Belgian law (2008)
7.2 UK law (2010)
7.3 US law (2008 and 2009)
7.4 French law (2007)

8. International Initiatives
8.1 HIPC debt relief initiatives (1996)
8.2 Norway (1998)
8.3 G8 (2005)
8.4 The Paris Club Initiative (2007)
8.5 China (2007)
8.6 Jubilee Debt Campaign

9. Ways Forward
9.1 International framework for restructuring sovereign debt
9.2 International arbitration court
9.3 Regulatory framework for public financial management

10. Conclusion

Bibliography
List of Cases

Annex 1. US Court Judgment in FG Hemisphere Associates, LLC v Democratic Republic of Congo and Société Nationale D’Electricité (S.N.E.L.)
Annex 2. Belgian Legislation
Annex 3. The UK Debt Relief (Developing Countries) Act 2010

Erscheint lt. Verlag	29.7.2010
Verlagsort	London
Sprache	englisch
Maße	170 x 240 mm
Themenwelt	Recht / Steuern ► EU / Internationales Recht
	Recht / Steuern ► Wirtschaftsrecht ► Bank- und Kapitalmarktrecht
	Sozialwissenschaften ► Politik / Verwaltung ► Staat / Verwaltung
	Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
ISBN-10	1-84929-008-3 / 1849290083
ISBN-13	978-1-84929-008-1 / 9781849290081
Zustand	Neuware