New York Assembly Considers Vote on Sovereign Debt Lawsuit Restrictions

A New York bill that would restrict the ability of investors to purchase certain claims involving debt issued or guaranteed by foreign governments for the purpose of filing lawsuits was passed by the state Senate and sent to the Assembly on Tuesday (June 2). The bill, which is called the Champerty Fix Act by its supporters, has until the end of this week to be advanced by lawmakers, Reuters reported Wednesday (June 3). Because New York law governs over 50% of sovereign bonds around the world, th