Jump to ContentJump to Main Navigation
Sovereign Debt and Human Rights$
Users without a subscription are not able to see the full content.

Ilias Bantekas and Cephas Lumina

Print publication date: 2018

Print ISBN-13: 9780198810445

Published to Oxford Scholarship Online: January 2019

DOI: 10.1093/oso/9780198810445.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 18 June 2021

Curbing ‘Vulture Fund’ Litigation

Curbing ‘Vulture Fund’ Litigation

(p.498) 26 Curbing ‘Vulture Fund’ Litigation
Sovereign Debt and Human Rights

Cephas Lumina

Oxford University Press

The lack of an international legal framework for the restructuring of sovereign debt, and the voluntary nature of current international debt restructuring initiatives have created opportunities for predatory private commercial entities—called ‘vulture funds’—to acquire defaulted sovereign debts at substantial discounts, refuse to participate in debt restructurings and aggressively pursue repayment of the full face value of the debt through litigation, often in multiple jurisdictions. This chapter discusses current official initiatives designed to curb vulture fund litigation and proposes a rethink of the doctrine of sovereign immunity as a key measure to curb the predatory behaviour of ‘vulture funds’. It also discusses the impact of the activities of these 'vulture funds’ on the realisation of human rights, particularly in developing countries, as well other consequences for the countries targeted by ‘vulture funds’

Keywords:   Defaulted sovereign debt, debt restructuring, secondary debt market, vulture funds, sovereign immunity, Liberia, Democratic Republic of the Congo

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .