Religious dev group advocates New York law to stop 'Vulture Funds'

Religious leaders, lawyers, academics and debt experts are meeting to discuss changing New York laws that govern debt contracts from Puerto Rico to Mozambique, says a press release of the Jubilee USA Network.

The public interfaith event held at a Schenectady Synagogue is entitled, "Building an Economy that Serves the Poor: An Interfaith Forum on New York Laws to Stop Predatory Finance and Protect Developing Economies."

"New York laws govern most of the world's debt", said Eric LeCompte, executive director of the religious Development Group, Jubilee USA. "Changing laws in New York can stop predatory behaviour and make it easier for US States and countries to get out of financial crisis."

More than half of the world's debt is contracted under New York state law.

The event is at 7:00 pm at the Congregation Gates of Heaven, Schenectady, New York. The event is free and open to the public.

Jubilee USA Network is an alliance of more than 75 US organisations and 650 faith communities working with 50 Jubilee global partners.