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Human Rights in Ireland
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offsite link The UN and the Eighth Amendment Thu Jun 23, 2016 09:46 | admin

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offsite link UK at the CESCR: A Focus on Benefit Sanctions Thu Jun 16, 2016 08:17 | admin

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offsite link Amanda Jane Mellet v. Ireland ? The Key Points Thu Jun 09, 2016 18:54 | Máiréad Enright

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Cedar Lounge
For lefties too stubborn to quit

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offsite link Divorce?Irish style  12:47 Fri Jul 01, 2016 | WorldbyStorm

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Dublin Opinion
Life should be full of strangeness, like a rich painting

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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

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

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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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