REGULATION OF VULTURE FUNDS

Early day motion 1440, tabled 6 May 2009 by Sally Keeble (Labour). Signed by 203 members.

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.

Signatures by party: Labour 121, Liberal Democrat 55, Conservative 12, Scottish National Party 5, DUP 4, Independent 2, Social Democratic and Labour Party 2, Independent Labour 1, Plaid Cymru 1.