I've just received some great news in our campaign to stop vulture funds using Jersey's courts to prey on poor countries.
The case we've been focusing on – vulture fund FG Hemisphere using Jersey's courts to try and collect $100m from the Democratic Republic of Congo – reached appeal in the UK Privy Council, which decides cases of Jersey law. And the court did what we've been pushing for, and ruled against the vulture fund!
This is a great precedent and a real victory not only for the Democratic Republic of Congo, but for campaigners around the world fighting for justice. After having much of its debt cancelled by the World Bank and IMF, the impact of losing so much money would have been unthinkable for a country just trying to move forward.
We handed in our petition earlier this year to the Chief Minister's office and your voice was heard. Jersey has said it will bring in a vulture funds law similar to the UK, though not quickly enough to affect this case. We hope to see it come in during the months ahead. Thank you for your part in this.
But of course the defeat of one vulture fund does not mean a defeat for all – we'll be in touch if other cases arise – as your voice was so vital in standing up for what was right.
Thank you again for being a part of this success.
Claire Hazelgrove, ONE.org
P.S. Find out more and share your thoughts on this campaign with other ONE members at: http://act.one.org/go/650?t=2&akid=3276.1915118.vig0bS