Vulture funds - how it happened
"It is not often that a voluntary organisation conducts street protests against City firms in one month and is rewarded by a Bill virtually to abolish these funds in the next." - The Earl of Sandwich, 8 April 2010
JAN 2009 – Parliamentary reception on Vulture Funds hears from campaigners and lawyers from US.
MAY 2009 – Sally Keeble MP secures Ten Minute Rule Bill on Vulture Funds.
SUMMER 2009 – Tens of thousands of campaigners sign Vulture Funds postcards to MPs calling for Vulture Funds Law. 203 MPs sign Early Day Motion in support.
JUL 2009 – Treasury launches consultation on legislation.
SEP 2009 – Campaigners call on Government to put Vultures Bill in Queen’s Speech. Government declines.
NOV 2009 – Two vulture funds swoop on Liberia in High Court and are awarded $20 million.
DEC 2009 – Thousands of campaigners contact MPs at top of Private Member’s Ballot. Andrew Gwynne MP agrees to ake up Vulture Funds Bill.
FEB 2010 – Reception in Parliament in support of Vulture Funds Bill. 216 MPs sign new Early Day Motion.
FEB 2010 – Spoof cake sale outside offices of Dechert LLP, law firm for Vulture Funds targeting Liberia.
FEB 2010 – Results of Government Consultation released, showing support for Vultures Law.
FEB 2010 – Bill passes Second Reading.
MAR 2010 – Messages of support received from Archbishop Tutu, President Johnson Sirleaf of Liberia, President Jagdeo of Guyana and former President Mkapa of Tanzania.
MAR 2010 – Campaigners stage demonstration outside Philip Davies MP’s office in Shipley, Yorkshire, to protest against wrecking amendment, subsequently withdrawn.
MAR 2010 – Facebook group set up targeting Chris Chope for opposing Bill.
MAR 2010 – Labour accuses Conservative front bench of supporting block. Conservatives say they support the Bill.
MAR 2010 – Labour commits to including Vultures Law in its manifesto.
MAY 2010 - The new government's Coalition Agreement pledges to "review what action can be taken against ‘vulture funds’."
NOV 2010 - US vulture fund FG Hemisphere is awarded $100 million in a Jersey court for a claim against the Democratic Republic of Congo.
NOV 2010 - Liberia reaches a settlement with the two vulture funds to repay 3% of the the debt - saving over $40 million.
NOV 2010 - A group of 14 international development organisations write to the Guardian calling on the Government to make the vultures law permanent.
MAR 2011 - The Coalition Government announces it will make the Vultures Law permanent.