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Reuters
Reuters
Business

Cuba says vulture fund seeking 72 million euros never a creditor as UK court begins proceedings

Cuba Fidel Castro central bank CRF London BNC

Cuba's Central Bank on Friday lashed out against a "vulture fund" seeking to cash in on unpaid government debt lingering from the era of former leader Fidel Castro, calling illegitimate its claims against the Communist-run island in a London court.

CRF I Ltd, an investor in defaulted Cuban sovereign debt since 2009, filed the case in Britain's High Court after Havana refused a debt relief offer made by CRF and some other bond holders back in 2018.

Such firms, described as "vulture funds" by the Cuban Central Bank, typically purchase distressed or defaulted debt then sue in international courts to get paid in full.

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