The vultures are circling! A private company recently scavenged a profit from Zambia, one of the world’s poorest countries. Please join our campaign urging world leaders to take action to stop this.  

>> TAKE ACTION – ASK YOUR MP TO STOP THE VULTURES 

vulture
 

In 1999, a ‘vulture fund’ called Donegal International bought a debt owed by Zambia, originally worth $15 million and then valued at about $30 million, for a knock-down price of $3.3 million. It then sued Zambia in London for the full amount, plus compound interest – a staggering total of over $55 million! The judge rejected the size of Donegal’s claim, after Zambia fought back in the courts. But he nevertheless ruled that under law Donegal was entitled to something from Zambia, and awarded the company $15.5 million. 

Zambia desperately needs all its money to invest in teachers, doctors and infrastructure. The UK and other wealthy governments must take action to prevent this kind of predatory action. Please add your voice to our call. 

>> ASK YOUR MP TO STOP THE VULTURES 

Explore the issues 

1. Read more about Zambia’s case
2. Get the background on vulture funds
3. Watch the Newsnight reports 

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READ MORE AT: http://www.jubileedebtcampaign.org.uk/?lid=2893

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