Jubilee USA Network Issues Statement on Outcome of the 'Debt Trial of the Century' - NML Capital, LTD. v. Republic of Argentina

FOR IMMEDIATE RELEASE
February 27, 2013

Jubilee USA Network Issues Statement on Outcome of the 'Debt Trial of the Century' - NML Capital, LTD. v. Republic of Argentina

NEW YORK - Jubilee USA Network's Executive Director, Eric LeCompte observed the NML Capital, LTD., Aurelius Capital Master, LTD. v. The Republic of Argentina case today and was able to reflect on the proceedings. Jubilee USA Network also had a vigil outside the courthouse.

"The 2nd U.S. Circuit Court of Appeals judges will issue their ruling in the coming weeks. We pray that they will side with the people of Argentina, the US Government and the world's poorest people," said Eric LeCompte, Jubilee USA Network Executive Director.

"If the judges rule in favor of these hedge funds, it will mean these funds will more aggressively target poor countries in fragile financial recovery. If they rule with Argentina, it will mean that it will be harder for these types of funds to exploit countries in financial distress. The actions of NML Capital and Aurelius Capital hurt legitimate investors and poor people."

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Jubilee USA Network is an alliance of more than 75 USorganizations, 250 faith communities and 50 Jubilee global partners. Jubilee USA Network has won critical global financial reforms and more than $130 billion in debt relief for the world's poorest countries. www.jubileeusa.org