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private members bill re vulture funds gets a 2nd reading in parliament

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today the Debt Relief (Developing Countries) Bill 2009-10 private members bill

Type of Bill:Private Members' Bill (Ballot Bill)Sponsor:Andrew Gwynne


got a 2nd reading unopposed {sadly due the the forthcoming election it could eventually fall by the wayside unless it is effectively "fastracked"}


vulture funds purchase sovereign debt and make vast fortunes via the british courts[very similar in theory to the way companies like cabot etc purchase debt ]


all parties in parliament find this procedure abhorrent.




the point is these MP's who speak positive about this bill including Andrew Gwynne need to be made aware of the debt purchasing companies and their dubious tactics etc here in the UK

Tam Wing Chuen -v- Bank of Credit and Commerce Hong Kong Ltd [1996] 2 BCLC 69




Lord Mustill Commonwealth,


Lord Mustill discussed the need to construe a contract contra preferentem: "the basis of the contra proferentem principle is that the person who puts forward the wording of a proposed agreement may be assumed to have looked after his own interests, so that if words leave room for doubt about whether he is intended to have a particular benefit there is reason to suppose that he is not."

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