When hedge funds bought up the Republic of Congo's debt and started chasing the impoverished African nation for repayment plus interest, the country's president, Denis Sassou-Nguesso, took the battle to Washington, D.C. Sassou-Nguesso hired a host of insiders to do battle with the so-called vulture funds on his behalf. In March 2008, he settled with the hedge funds -- but his lobbying effort is still thriving.
November 10, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
When hedge funds bought up the Republic of Congo’s debt and started chasing the impoverished African nation for repayment plus interest, the country’s president, Denis Sassou-Nguesso, took the battle to Washington, D.C.
Sassou-Nguesso hired a host of insiders to do battle with the so-called vulture funds on his behalf. In March 2008, Sassou-Nguesso settled with the hedge funds — but his lobbying effort is still thriving.
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