REGULATION OF VULTURE FUNDS

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.