In response to the New York State Assembly Judiciary Committee voting the New York Taxpayer and International Debt Crises Protection Act out of committee, Ben Grossman-Cohen, Oxfam America’s director of campaigns, said:
"New York State is one step closer to ending the abuse of its court system by vulture funds. This bill can clear the way for much needed debt relief for low-income countries and prevent bottom feeding profiteers from holding them hostage with lawsuits. It also ensures that all key players have a seat at the table in debt restructuring negotiations.
“Families are going without school, healthcare and food as countries are going broke in the face of the compounding economic crises driven by the COVID pandemic and the war in Ukraine. We urge the New York State Senate to move its version of the bill through the Judiciary Committee soon to keep it on track to final passage before the legislature adjourns in June."
/ENDS