Photo by Zach Roberts © 2011

FOR IMMEDIATE RELEASE

UK – Jersey Takes Initiative to Limit Vulture Funds – EIR and Friends of the Congo Applaud Effort

New York City, NY, February 6th, 2012 – Jersey’s Chief Minister, Senator Ian Gorst, announced plans to outlaw vulture funds that have been using court systems to capitalize on the economic vulnerabilities of poor nations.  Senator Gorst explained that this initiative “demonstrates Jersey’s commitment to play its part in the global effort to support measures which assist the world’s most heavily indebted poor countries.”

This announcement comes as welcome news to advocates for debt-relief who have been crying out and campaigning against predatory vulture funds, a practice where international debt speculators buy the poorest country’s debts and then sue for 10 to 100 times the amount of purchase, driving countries further into debt and stalling development that would enable them to recover.

Targeting companies that do business with heavily-indebted nations, fund holders attempt to claim profits on the basis of debt collection.  The Democratic Republic of Congo, ranking last at 187 on the United Nations Development Programme 2011 Human Development Index, has been a victim of this practice since 1996. The collections are aimed at companies but ordinary citizens clearly bear the cost of economic stress and stalls in development.  According to the 2011 Global Hunger Index by the International Food Policy Research Institute, Congo has the highest proportion of undernourished people – about 70 percent of the population – and one of the highest child mortality rates in the world.  Vulture funds exacerbate the conditions that entrench a struggling nation further into debt and dependency on international aid.

New York-based hedge fund FG Hemisphere Associates LLC, owned by Brooklyn Financier Peter Grossman, is currently suing the Democratic Republic of Congo (former Zaire) for $100 million in the Jersey courts. The claim is based on a $30 million loan given 30 years ago to Zairian dictator Joseph Mobutu by Yugoslavia’s (now Bosnia) Energoinvest for a failed hydro-electricity project. Energoinvest sold its Congo debt to FG Hemisphere (now FG Capital Management Ltd.). According to the BBC, The Guardian, Democracy Now, and the Organized Crime and Corruption Reporting Project, Peter Grossman’s hedge fund purchased the loan from Bosnia’s former Prime Minister and former director of Energoinvest, Nedzad Brankovic, for only $3 million. The Bosnian Chief of Financial Police claims that Brankovic acted illegally in selling the debt, which was owned by Bosnia, but sold personally, and has recommended Brankovic be charged.

Since 2005, FG Hemisphere has tried to seize Congo’s assets in the Bahamas, Europe, Hong Kong, South Africa and the United States. In 2009, FG Hemisphere brought the case against Congo to the island of Jersey in the United Kingdom. In December of 2011, the Jersey Court awarded FG Hemisphere $100 million. Senator Ian Gorst’s plan to outlaw vulture funds in Jersey will save the Congo from losing $100 million to FG Hemisphere. The final appeal in the FG Hemisphere vs. D.R. Congo case is expected to be heard in the next few months.

Jersey’s efforts are laudable and have been praised by advocacy groups like Friends of the Congo and Existence Is Resistance, who have undertaken a continuous protest since the end of November to expose the players behind the pilfering of the Congo. Encouraged by Jersey’s initiative, members of these groups are calling for more people to join them as they gather every Sunday at 5 PM at Peter Grossman’s residence in Brooklyn at the corner of Dekalb and Washington avenues in Brooklyn, NY.

About Friends of the Congo and Existence is Resistance

The Friends of the Congo is a grassroots advocacy organization based in Washington, DC.

Existence Is Resistance is an internationalist organization determined to promote non-violent resistance through cultural arts.

For more information or to schedule an interview, contact:

Kambale Musavuli, 646-571-8312, info@friendsofthecongo.org

Ryan Green, 917-284-5343, questions@existenceisresistance.org

Congo Week 2012 Events

As a kick-off to the 2012 calendar, Friends of the Congo invites our supporters to join us on January 17, 2012 at the Taj Lounge. The evening will commemorate the 51st anniversary of the assassination of Congo’s first democratically elected Prime Minister, Patrice Emery Lumumba.

Purchase Tickets!

Everyone can lend their strengths to this critical movement – activists, socialites, musicians, community leaders and organizers are welcomed to join-in. Attendees will be engaged in live DJ, musical performances, a film and introduction of the 2012 events calendar. This premier location will set the standard for the caliber of events people can expect from FOTC and highlight previous moments in a visual presentation.

In protest against Rockefeller Center putting up every flag at it’s center except the Palestinian flag, Existence is Resistance organized it’s 2nd annual Occupation on Ice.

The activist where split up with some skating on the ice and raising the Palestinian flag at a precise moment with those all around the center.  Palestinian flags were in full display on the skating rink and all around Rockefeller Center.  Many tourist cheered the action and were supportive.

The NYPD came and demanded that we put our flags down and leave, they said no flags were allowed but we said Rockefeller Center is filled with flags.  We are simply asking them to include the Palestinian flag amongst the flags of the world.  After some questioning and checking our id’s we were let go.

Here are some pics of the action, photos courtesy of Bud Korotzer of DesertPeace.

Trailer

Existence is Resistance & Nana Dankwa present: “Hip Hop Is Bigger Than The Occupation” – A documentary about a ten day journey of artists traveling through Palestine, teaching and performing Non Violent Resistance through the arts.

The tour included M1 of Dead Prez, Shadia Mansour, Marcel Cartier, Mazzi of Soul Purpose, DJ Vega Benetton, Lowkey, Jody McIntyre and Trinidad, Brandon and Lavie from the South West Youth Collaborative/University of Hip Hop Chicago.

Staying in the heart of Balata Refugee Camp @ the Yafa Cultural Center in Nablus the group witnesses night raids, toured places like Hebron where there are roads for the Arabs and roads for the Jews, they meet families of shaheeds as well as young Palestinians who have been jailed, shot, humiliated, the group visits Bi’lin where they get shot at and tear gassed and experience first hand what it felt like living under occupation. Please come out and watch this emotional and educational journey.

All proceeds will be donated towards this year’s tour.

Visit www.existenceisresistance.org for more information.

Running time: 1 hour 25 minutes

Free Admission – suggested donation $10 (No one will be turned away)

www.existenceisresistance.org

FILM REVIEW -

http://electronicintifada.net/content/film-review-can-hip-hop-be-bigger-occupation/10438

I am writing to urge you to immediately drop the revoked amnesty against Zakaria Zubeidi and to grant him further amnesty without any compromises.

As is the case with so many others there are very serious, well-founded concerns that the revoked amnesty brought against Zakaria Zubeidi is politically motivated.

Zakaria Zubeidi, has been told by the Palestinian Authority that his amnesty is being revoked by the Israeli authorities.

This amnesty agreement, granted in 2007 by the Israeli Prime Minister’soffice was in return for Zakarian Zubeidi’s ending of armed resistance.

The amnesty agreement allowed him to remain safe inside the Palestinian Authority district of Jenin where the Israeli military would not seek to arrest or assassinate him.

After having been the leader of the armed resistance during the second Intifada, Zakaria Zubeidi has since 2006 committed to cultural, non-violent resistance through theatre.  He founded The Jenin Freedom Theatre.

The Jenin Freedom Theatre is a cultural venue in Jenin Refugee Camp, that uses the arts as a form of resistance against occupation.

In addition to contradicting international human rights and humanitarian law Zakaria Zubeidi’s revoked amnesty also violates article 5 (the right to liberty and security) of the European Convention on Human Rights.
Furthermore, I would like to recall the EU and Israel’s obligations under article 2 of the EU-Israel Association Agreement, which calls for the EU-Israeli relationship to be guided by respect “for human rights and democratic principles”.

It is in this context that I call on you to act through the European Parliament to hold Israel accountable for its actions by demanding that Israel:  pending the conclusion of the review–and the dismissal of all charges if the convictions are found to be in violation of the above-mentioned international legal norms (the observance of which the Israel is treaty-bound to observe.)

Immediately put an end to its practice of arbitrary arrests and insults against The Jenin Freedom Theatre and its complete crew;

Please be assured that the international community is watching this case very closely.

Sincerely,

Please call these numbers asking for information and voicing your support for Zakaria
00 970 (0)59 777 88 87 Majd Faraj head of Palestinian intelligence’
00 970 (0)59 900 00 11 Abo Mohammad Shadeh head of the security of the Presidents office
00 970 (0)59 944 75 47 Dr Said Abo Ali, Minister of Interior
00 970 (0)59 930 38 50 Saeb Erekat Head of negotiations
00 970 (0)59 955 88 22 Ataeb Abdurahem, National Security
00 970 (0)59 920 54 79 Qadura Mussa, governor of Jenin

Please FAX to EU Court of Human Rights (which does not accept emails):
+ 33 (0)3 88 41 27 30
Please EMAIL to the below:

Secretary General Ban Ki-moon
United Nations
New York, NY 10017 USA
212-963-5012 fax: 212-963-7055 FAX !!!
Email: ecu@un.org

A directory of members of the European Parliament can be found here:
http://www.europarl.europa.eu/members/public

Permanent Mission of Israel to the United Nations Office and Specialized Institutions in Geneva
Avenue de la Paix 1-3
1202 Geneva
Fax: +41 22 716 05 55,
Email: mission-israel@geneva.mfa.gov.il

Write to Israeli Embassies and Consulates in your own country. A directory of Israeli embassies can be found on the website of the Israeli Ministry of Foreign Affairs at the following link: http://www.mfa.gov.il/MFA/Sherut/IsraeliAbroad

Menachem Mazuz
Attorney General
Fax: + 972 2 627 4481; + 972 2 628 5438; +972 2 530 3367
Brigadier General Avihai Mandelblit

Military Judge Advocate General
6 David Elazar Street
Hakirya, Tel Aviv, Israel
Fax: +972 3 608 0366, +972 3 569 4526
Email: arbel@mail.idf.il, avimn@.idf.gov.il

Mr. Benjamin Netanyahu Prime Minister Office of the Prime Minister 3, Kaplan Street, PO Box 187 Kiryat Ben-Gurion, Jerusalem, Israel Fax: +972- 2-651 2631 Email: pm_eng@pmo.gov.il