H.R. 2932 would prevent speculation and profiteering in the defaulted debt of certain poor countries.
Detailed Summary
Stop Very Unscrupulous Loan Transfers from Underprivileged Countries to Rich, Exploitive Funds Act or the Stop VULTURE Funds Act - Prohibits: (1) any U.S. person from engaging in sovereign debt profiteering, or any person at all from engaging in such profiteering in the United States; and (2) any U.S. court from issuing a summons, subpoena, writ, judgment, attachment, or execution in aid of a claim which would further sovereign debt profiteering.
Sets forth required court disclosures in actions involving collection of sovereign debt.
Status of the Legislation
Latest Major Action: 7/23/2009: Referred to House subcommittee. Status: Referred to the Subcommittee on Courts and Competition Policy.
Points in Favor
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Points Against
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