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Monday, 27 June 2011

"Time To Stop The Parasites"

Third world debt role questioned



Chief Minister Terry Le Sueur

AN official inquiry has been launched into Jersey’s role in forcing third world countries to pay millions of pounds in crippling debt.
Chief Minister Terry Le Sueur has revealed that senior Law Officers, top-ranking civil servants and finance experts have met to look at whether so-called vulture funds should be allowed to use Island courts to chase debts.
The funds buy up the debts of developing countries for a fraction of the amount owed and then aggressively pursue the debtors through the courts to recover as much as possible. Some of the debts date back to the 1980s, with nations having already paid back the original figure borrowed several times over.

Below is a green link to the Tom Gruchy blog that covered this topic very well last year.

http://tomgruchy.blogspot.com/2010/11/jersey-vultures.html

3 comments:

  1. There is an article re Jersey Vultures on the Tom Gruchy blog for 20 November 2010.
    Perhaps you can link to it?

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  2. Vulture Courts? Another perfect industry for sleazy Jersey.

    ReplyDelete