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Vulture Funds

Cuba Wins Lawsuit Against Vulture Fund In London Court

In a hearing held on Tuesday at the High Court of England and Wales, Judge Sara Cockerill notified the lawyers for the parties of the judgment corresponding to the lawsuit filed by the vulture fund CRF 1 Limited against the Republic of Cuba and the Banco Nacional de Cuba (BNC). The ruling accepted the standpoint sustained by the Cuban side during the process and dismissed CRF’s claim against the Cuban state. According to the court ruling, the wrongdoings by BNC officials, subject first to a criminal investigation and then a court ruling, were reasonable grounds for the Cuban government to deny its consent to pay the debt in favor of CRF.

Vulture Funds To Use Pandemic To Pillage The Global Economy

There’s a new app with a tagline that promises that you, too, can ‘profit like a landlord from just £1 with no effort’. Proptee, set to launch this year (subject to approval from the UK’s Financial Conduct Authority) allows anyone with, say, five grand to buy shares in a buy-to-let flat in London worth half a million. In return, you receive a slice of its tenants’ monthly rent—here about one percent—with the promise you can cash-out your investment as the value rises. ‘We’re building a stock exchange for properties that lives on your smartphone and combines the high yields and low risk of property investing with the high liquidity of a stock exchange,’ explains 24-year-old cofounder Benedek Toth.

Puerto Rico: Three Years For History

As 2020 begins, it is worth taking a look back and commenting on the events that have taken place in Puerto Rico over the last year and identifying their links and possible consequences. The exercise leads us, inevitably, to situate ourselves in 2016 in order to trace the process that describes this last episode of our history. That year several events of great significance took place. Of particular note were the decisions of the U.S. Supreme Court that ruled on the delegitimization of the “commonwealth”. Meanwhile, the U.S. Congress, almost simultaneously, approved the Promise Act imposing a Fiscal Control Board (FCB) on the Government of Puerto Rico. Against this backdrop, the 2016 general elections were held and later, in January 2017, the Ricardo Rosselló Nevárez administration began.

Argentina Sues US For Violation Of Sovereignty

Argentina filed suit against the United States at the International Court of Justice (ICJ). The lawsuit argues that the US 2nd Circuit Court decision between Argentina and predatory hold-out funds violates Argentina's sovereignty. The court is a United Nations body and can only hear the case if the United States government agrees to accept the ICJ's jurisdiction. Eric LeCompte, Executive Director of the religious anti-poverty coalition, Jubilee USA Network, releases the following statement: "This case illustrates that we need basic rules of responsible lending and borrowing in place in order to stop predators. "If we had an international bankruptcy process, countries from Argentina to Grenada never would default and predatory actors are forced to sit at the table."

Argentina Is Right To Defy The Taliban Of Global Finance

On Wednesday, Argentina defaulted on its sovereign debt for the second time in 13 years, defying a US court ruling and a small cabal of financial fundamentalists led by the right-wing multi-billionnaire hedge fund mogul Paul Singer. Needless to say, most mainstream analysts are already bandying the usual platitudes, having us believe that Argentina’s populist government and its economic mismanagement are to blame for this outcome. While there is little point in defending Argentina’s corrupt political elite here, it is important to provide a much-needed corrective to this tired mainstream narrative. The first thing to note is that, despite repeated accusations by the vultures that Argentina is in contempt of US court rulings, Argentina’s willingness to pay its debts is not in question. The country has credibly committed itself to repaying its foreign creditors ever since it restructured its unsustainable debt load in the wake of its historic 2001 default, with over 93% of bondholders accepting crisp new bonds in 2005 and 2010. In fact, the government last month deposited $539 million with the Bank of New York Mellon to honor its commitments — in full and on time. Willingness to pay is simply not an issue.
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