Below is a summary from Jubilee USA
Yesterday, February 28th, Jubilee USA stood with the poor and against vulture funds at the New York 2nd Circuit Court of Appeals - the last stop before the Supreme Court. We vigiled outside and observed with hundreds of people packed in the court and several overflow rooms. Over the past 24 hours, hundreds of media outlets covered the story and featured the arguments of Jubilee USA. In addition to Jubilee USA's vigil outside the US Court, Jubilee South organized an amazing demonstration in Buenos Aires and Jubilee Debt Campaign banged pots and pans outside the doors of the London office of the lead vulture fund, NML Capital.
Eric LeCompte, Executive Director of Jubilee USA, issued this statement on the deep global ramifications that this ruling will have on the world's poorest:
“If the judges rule in favor of these hedge funds, it will mean these funds will more aggressively target poor countries in fragile financial recovery. If they rule with Argentina, it will mean that it will be harder for these types of funds to exploit countries in financial distress. The actions of NML Capital and Aurelius Capital hurt legitimate investors and poor people.”
“Judges at the 2nd U.S. Circuit Court of Appeals will issue their ruling in the coming weeks. We pray that they will side with the people of Argentina, the US Government and the world’s poorest people.”