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Cedar Lounge
For lefties too stubborn to quit

offsite link It?s kind of cool to see that? 11:51 Sat Oct 25, 2014 | WorldbyStorm

offsite link This Weekend I?ll Mostly Be Listening to? The High Llama?s ? Gideon Gaye 03:52 Sat Oct 25, 2014 | WorldbyStorm

offsite link Green Day 22:09 Fri Oct 24, 2014 | WorldbyStorm

offsite link From 2005 advice to Sinn Fein from the SWP 20:12 Fri Oct 24, 2014 | irishelectionliterature

offsite link It?s all a game ? eh? 16:53 Fri Oct 24, 2014 | WorldbyStorm

Cedar Lounge >>

Irish Left Review
Joined up thinking for the Irish Left

offsite link That Day has Come Thu Oct 23, 2014 10:45 | Anne Irwin

offsite link The Changing Pattern of Foreign Investment in China Wed Oct 22, 2014 13:36 | John Ross

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offsite link Revealed: EU science chief promised to be ?flexible? towards Israel?s war crimes Thu Oct 16, 2014 15:21 | David Cronin

offsite link Austerity is Over? Now Back to the Real World Wed Oct 15, 2014 17:21 | Michael Taft

Irish Left Review >>

Human Rights in Ireland
www.humanrights.ie

offsite link The Extraordinary Synod in Rome. Will it bring extraordinary times? Wed Oct 22, 2014 07:09 | GuestPost

offsite link A new Constitutional Settlement for Northern Ireland: Queries from International Law Mon Oct 20, 2014 10:27 | Aoife O'Donoghue

offsite link Why Budget 2015 must be that last of its kind Fri Oct 17, 2014 08:36 | Liam Thornton

offsite link Socio-Economic Rights & Budget Analysis: Some Notes on Available Resources, ?Progressivity? and Non... Thu Oct 16, 2014 11:55 | Liam Thornton

offsite link Legal pathways to reproductive justice and abortion rights #repealthe8th Mon Oct 13, 2014 15:00 | GuestPost

Human Rights in Ireland >>

NAMA Wine Lake

offsite link Farewell from NWL Sun May 19, 2013 14:00 | namawinelake

offsite link Happy 70th Birthday, Michael Sun May 19, 2013 14:00 | namawinelake

offsite link Of the Week? Sat May 18, 2013 00:02 | namawinelake

offsite link Noonan denies IBRC legal fees loan approval to Paddy McKillen was in breach of E... Fri May 17, 2013 14:23 | namawinelake

offsite link Gayle Killilea Dunne asks to be added as notice party in Sean Dunne?s bankruptcy Fri May 17, 2013 12:30 | namawinelake

NAMA Wine Lake >>

Supreme Court Hears Argentina Predatory Hedge Fund Discovery Case High Court Decision to Hear Broader Landmark Debt Case Pending

category international | miscellaneous | news report author Friday April 18, 2014 18:00author by Arielle Retrosi Report this post to the editors

On Monday, the Supreme Court hears arguments between Argentina and holdouts who refused two debt restructuring deals after Argentina defaulted on its debts in 2001. The Supreme Court Justices will determine if predatory hedge fund, NML Capital can obtain information from US Banks that reveal Argentina's holdings in order to target those assets for debt payments. The Obama Administration is siding with Argentina in the case. In the summer, the Supreme Court will also decide if it will hear a much broader case between Argentina and the hedge funds that impacts extreme poverty, official US debt policy and country debt restructuring.

"The Supreme Court hearing this initial case offers some indication that they are interested in hearing the broader case," said Eric LeCompte, Executive Director of the religious antipoverty coalition, Jubilee USA Network. "The courts decision on the broader case will impact financial stability and people living in extreme poverty."

In late March, Jubilee USA Network and 79 religious and development groups filed an Amicus ("friend-of-the-court") brief with the Supreme Court urging them to take the broader case with global implications. In addition to Jubilee USA's filing, economist Joseph Stiglitz and the governments of Brazil and Mexico also filed on Argentina's side. The G24, the International Monetary Fund, World Bank, United Nations and the US government continue to raise concerns with predatory holdout behavior.

“There's a global consensus that his behavior hurts poor people and legitimate investors,” said LeCompte who serves on several UN expert groups working to stem predatory behavior. "If the Supreme Court takes the broader case and decides for Argentina, we'll see a lot of this extreme behavior end."

Jubilee USA Network is an alliance of more than 75 US organizations, 400 faith communities and 50 Jubilee global partners. Jubilee's mission is to build an economy that serves, protects and promotes participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

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