Vulture Funds

At its twenty-seventh session, the Human Rights Council adopted resolution 27/30 (A/HRC/RES/27/30) on the activities of vulture funds, wherein it requests the Advisory Committee to prepare a research-based report on the activities of vulture funds and the impact on human rights. The Committee is to present a progress report for the consideration of the Council at its thirty-first session (March 2016).

The Committee is also requested to seek the views and inputs of Member States, United Nations agencies, relevant international and regional organizations, the Office of the United Nations High Commissioner for Human Rights and relevant special procedures, including the Independent Expert on the effects of foreign debt and other related international financial obligations of States on the full enjoyment of all human rights, particularly economic, social and cultural rights, as well as national human rights institutions and non-governmental organizations, in the preparation of the above-mentioned research-based report.

At its fourteenth session in February 2015, the Committee established a drafting group tasked with the drafting of the report and designated the following experts as members of the drafting group: Mr. Bennani, Mr. Coriolano, Mr. Lebedev, Mr. Soofi (Chairperson) and Mr. Ziegler (Rapporteur).

At its fifteenth session, the Advisory Committee considered the draft progress report (A/HRC/AC/15/CRP.1), which took into account the replies to the questionnaire on the issue. The Committee recommended that the Human Rights Council extend the time schedule envisaged to allow for better informed work, and that the Committee be requested to submit a progress report to the Council at its thirty-third session (September 2016).

At its sixteenth session, the Committee took note of the draft progress report (A/HRC/AC/16/CRP.1) and requested the drafting group to finalize its report to the Human Rights Council in the light of the discussion held by the Committee at its sixteenth session, after circulating it electronically to all members of the Committee for approval, and to submit it to the Council at its thirty-third session.

At its seventeenth session, the Committee therefore had before it the progress report (A/HRC/33/54) already submitted to the Council for the latter’s consideration at its thirty-third session (September 2016).

In March 2017, the Human Rights Council adopted resolution A/HRC/RES/34/3, wherein it takes note with appreciation of the progress report of the Advisory Committee on the activities of vulture funds and their impact on human rights, and requests the Committee to present a final report thereon to the Council for consideration at its thirty-ninth session (September 2018).

At its nineteenth session therefore, the Committee will hold discussions on this topic and establish a drafting group for the preparation of the above-mentioned report.