Page last updated at 10:35 GMT, Wednesday, 6 May 2009 11:35 UK

The battle to kill off the vulture funds

In February 2007 Newsnight revealed the scandal of vulture funds, financial schemes run by people who buy up the debt of developing countries for a few million dollars and then sue for the full amount of debt, which could be 10 times as much, or more.

Newsnight focussed on the story of American Michael Sheehan, nicknamed "Goldfinger", who made a fortune out of Zambia's debt. The independent investigative journalist Greg Palast reports.

Originally broadcast on 5 June 2007.


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