December 19, 2012

ARA Libertad finally free to sail home from Ghana

Filed under: Africa, Americas, Government, Military — Tags: , , , , , — Nicholas @ 15:05

If you’ve been following the debt-related travails of the Argentine navy’s flagship, you’ll recall that the ship was impounded on a visit to Ghana back in October. The BBC is now reporting that the ship has been released, and Argentinian sailors will be able to take the frigate home after a UN court decision:

The Libertad set sail from Ghana’s main port of Tema after a United Nations court last week ordered its release.

Argentina sent almost 100 navy personnel to man the three-masted training ship.

It was impounded after a financial fund said it was owed money by Argentina’s government as a result of a debt default a decade ago.

[. . .]

In November, sailors on board the Libertad reportedly pulled guns on Ghanaian officials when they tried to board the vessel to move it to another berth.

The lengthy diplomatic row began when the ship was prevented from leaving Ghana on 2 October, after a local court ruled in favour of financial fund NML Capital. The fund is a subsidiary of US hedge fund Elliot Capital Management which is one of Argentina’s former creditors.

Initial report on the seizure here and here.

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