Lobbyists 'Deploy' to Stop Sovereign Debt Reform Bill

Lobbyists 'Deploy' to Stop Sovereign Debt Reform Bill

Lobbying groups representing Wall Street firms are mounting an eleventh-hour push to stop proposed legislation that would limit creditor lawsuits against countries that default on their debt payments. Those lawsuits are often brought by hedge funds that are not satisfied with the debt repayment terms that other creditors, like governments, accept in restructuring negotiations. The bill was developed by community groups after Puerto Rico defaulte…