Financial Times FT.com

‘Vulture funds’ circle but debtors stay a moving target

By Alan Beattie

Published: February 18 2007 18:08 | Last updated: February 18 2007 18:08

London’s Royal Courts of Justice had an unusual visitor last Thursday – a four-year-old African white-back vulture improbably named Nigel.

Nigel and his handler were hired by the charities Oxfam and the Jubilee Debt Campaign to highlight a judgment in the High Court. Zambia, the impoverished southern African state, was sued for $55m by an investment fund to force it to pay the full value of government debt bought at a huge discount.

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