The following letter under the heading of “Urgent need for legislation on Argentina debt” was published in the Financial Times and refers to the ongoing battle with the holdout hedge funds.The piece is signed by Tim Jones, Policy Officer, Jubilee Debt Campaign, London, N1, UK.
More than 100 British Members of Parliament have signed a resolution of support for Argentina in the fight against hedge fund holdout investors, and warned that if the United States Justice System ruled against the nation it could fall into default.
Britain’s Privy Council has ruled that a vulture fund cannot collect 100 million dollars from the Democratic Republic of Congo. Newsnight revealed last year that old Congo debts had been illegally sold to FG Hemisphere for 3 million and the fund had then sued in Jersey where they were awarded 100 million.