Editing Distressed securities (section)

===Liberia===
In 2009, a British court awarded $20&nbsp;million to hedge funds suing [[Liberia]]. Before the hedge funds could collect their money, the Debt Relief (Developing Countries) Act 2010<ref>{{cite web|url=http://www.legislation.gov.uk/ukpga/2010/22/pdfs/ukpga_20100022_en.pdf |title=Debt Relief (Developing Countries) Act 2010 |access-date=2014-07-28}}</ref> was passed in the [[UK parliament]] in 2010 after Liberian president and 2011 [[Nobel Peace Prize]] winner [[Ellen Johnson Sirleaf]] appeared on the BBC ''[[Newsnight]]'' program for the hedge funds to "have a conscience and give this country a break".<ref>{{cite news|last=Jones |first=Meirion |url=http://news.bbc.co.uk/1/hi/programmes/newsnight/8610062.stm |title=Newsnight - UK stops 'vulture funds' picking on poor |work=BBC News |date=2010-04-08 |access-date=2013-10-15}}</ref>

That act caps what the hedge funds can collect, they had to settle with Liberia for just over $1&nbsp;million, and effectively prevents them suing for exorbitant amounts of money in United Kingdom courts. Nick Dearden of the [[Jubilee Debt Campaign]] said of the change, "It will mean the poorest countries in the world can no longer be attacked by these reprehensible investment funds who grow fat from the misery of others". The law was made permanent in 2011 but there are still havens for this activity, such as the [[Channel Islands]] and the [[British Virgin Islands]].<ref>{{cite news|url=https://www.theguardian.com/global-development/2011/nov/15/vulture-funds-how-they-work |title=Vulture funds—how do they work?|work=The Guardian |access-date=2013-10-15 |location=London |date=15 November 2011}}</ref>