This report cites as an important positive step the Belgian Law on vulture funds
Vulture fund Investment funds who buy, on the secondary markets and at a significant discount, bonds once emitted by countries that are having repayment difficulties, from investors who prefer to cut their losses and take what price they can get in order to unload the risk from their books. The Vulture Funds then pursue the issuing country for the full amount of the debt they have purchased, not hesitating to seek decisions before, usually, British or US courts where the law is favourable to creditors. passed on 12 July 2015. But it is currently being challenged by a Cayman Islands-based hedge fund, NML Capital Ltd. (a subsidiary of Elliott Management Corporation funded by the billionaire Paul Singer), before the Constitutional Court of Belgium. This vulture fund also won the so-called “trial of the century” in sovereign debt Sovereign debt Government debts or debts guaranteed by the government. against Argentina in New York. Please sign CADTM’s International Call to Support and Internationalize the Belgian Law on Vulture Funds.