Cameroon

Cameroon is being pursued by multiple vulture funds, including Grace Church Capital (Cayman Islands), Antwerp (UK Virgin Islands), Sconset Limited (UK Virgin Islands) and Winslow Bank (Bahamas). Each of these cases follows fairly typical vulture fund storylines. Grace Church Capital bought Cameroonian debt for $9.5 million and then sued for nearly $40 million, while Sconset bought its share for $15 million and sued for $67 million. Antwerp also bought its debt for about $15 million, but is claiming an astounding $196 million from a country that ranks 150th on the United Nations' Human Development Index (HDI) and has a GDP of just $22 billion. Winslow Bank, meanwhile, sued for nearly $50 million for just $9 million worth of debt, and attempted to seize Cameroonian assets abroad as a means of enforcing its victory in court.