VULTURE FUNDS

That this House expresses concern at the activities of so-called vulture funds, which seek to profit unfairly from the defaulted debts of heavily-indebted poor countries; notes that the international community has already deemed many of these countries' debts unsustainable by agreeing to reduce or cancel them; further notes the actions of a minority of creditors who litigate to seek full repayment of defaulted debt by claiming payment via international trade and even aid transactions; 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; and supports the provisions of the Debt Relief (Developing Countries) Bill introduced by the hon. Member for Denton and Reddish to limit the activities of vulture funds.