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Friday, March 11, 2016 |
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Liberia ordered to pay 'vulture funds' over 1978 debt
BBC, November 28, 2009
A British court has ordered Liberia to pay two
Caribbean-registered investment funds more than $20m (£12m) for
a debt that dates back to 1978.
The sum awarded to the firms - described as "vulture funds" by
critics - is equivalent to about 5% of the Liberian government's
budget this year.
Liberia says it has no money to pay the debt back and has
accused the firms of profiting from poverty.
The country is recovering from a 14-year civil war that ended in
2003.
The details of the case are still unclear, but it is thought
Liberia borrowed $6.5m from the US-based Chemical Bank in 1978
and that debt may have been resold a number of times.
The two funds requested London's High Court to grant a summary
judgement in the case - making Liberia liable for the debt
without the need for a full hearing. ...
.....More
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Ghana Seizes Nigerian Oil Vessel
Nigeria, November 28, ThisDay - A Nigerian oil
vessel, christened “African Prince”, has been jointly
seized by the Ghanaian Air Force and Navy in Tema. A
39-year old Nigerian, the chief cook of the vessel, was
found dead on board..... More |
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Liberia ordered to pay 'vulture funds'
over 1978 debt
UK, Nov 28, BBC - A British court has ordered Liberia
to pay two Caribbean-registered investment funds more than
$20m (£12m) for a debt that dates back to 1978.........More
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Who's to blame for Climategate?
UK, Nov 28, Telegraph, UK - The publication of
damning emails about climate change could literally
change the world. Gordon Rayner reports.....More |
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Soccer
News Net Chooses Watson-Siriboe as the Nation's Top Male
Soccer Player Finalist.
STORRS, Conn. - UConn defender, Kwame Watson-Siriboe,
was named one of 34 of the nation's top men's college soccer
finalists for the Soccer News Net Player of the Year Award..
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