Skip to main content
HRES 507 112th Congress House International Affairs Antigua and Barbuda Bank accounts, deposits, capital Caribbean area Crime victims Criminal investigation, prosecution, interrogation Financial services and investments Foreign aid and international relief Foreign and international banking Foreign loans and debt Fraud offenses and financial crimes Jurisdiction and venue Latin America Multilateral development programs

Expressing the sense of the House of Representatives regarding the Government of Antigua and Barbuda and its actions relating to the Stanford Financial Group fraud.

Introduced: December 20, 2011 See on congress.gov
 Everywhere this bill has been 7 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 13, 2012
Referred to the Subcommittee on Terrorism, Nonproliferation, and Trade.
Feb 13, 2012
Referred to the Subcommittee on the Western Hemisphere.
Jan 12, 2012
Referred to the Subcommittee on International Monetary Policy and Trade.
Jan 12, 2012
Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Dec 20, 2011
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Dec 20, 2011
Sponsor introductory remarks on measure. (CR E2330)
Dec 20, 2011
Introduced in House
 Plain-English summary Congressional Research Service

Expresses the sense of the House of Representatives that all further assistance provided by the United States to Antigua and Barbuda should be suspended until Antigua and Barbuda provide complete redress of specified issues regarding an investigation of the Stanford Financial Group fraud.

Includes among such redress: (1) an agreement by of Antigua and Barbuda to be subject to the jurisdiction and bound by the judgment of any U.S. court that adjudicates the claims relating to the Stanford Financial Group fraud; (2) the transfer of the assets seized by Antigua and Barbuda, or obtained by the joint liquidators of Stanford International Bank, to the U.S. district court-appointed receiver for the benefit of victims of the fraud; (3) a specified contribution by Antigua and Barbuda to the U.S. receivership estate for the benefit of victims of the fraud; (4) fulfillment by Antigua and Barbuda of their obligations relating to the expropriation of the Half Moon Bay Resort; and (5) an agreement by Antigua and Barbuda to neither interfere with the receivership commenced by the United States, nor seek control of assets claimed by the United States.

Expresses the sense of the House that the Secretary of the Treasury should direct the U.S. Executive Directors of the International Bank for Reconstruction and Development and the International Development Association (World Bank) and the International Monetary Fund (IMF) to use the voice and vote of the United States to ensure that any future loan made by the World Bank or the IMF to Antigua and Barbuda is conditioned upon providing complete redress of these matters, and satisfaction of this resolution.

What's happening now February 13, 2012

Referred to the Subcommittee on Terrorism, Nonproliferation, and Trade.

 Committees of jurisdiction 6