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Freed Argentine navy ship arrives back home

Posted on January 10th, 2013 at 3:35 by Sueyourdeveloper in category: News -- Write a comment

Quote

An Argentine navy ship was given a triumphant homecoming three months after it had been seized in Ghana on behalf of a hedge fund suing over defaulted government bonds.

The ARA Libertad, a tall sailing ship used as a training vessel, was detained in the West African nation on October 2 due to a court order obtained by NML Capital Ltd as it fights to get full repayment for the bonds in the courts.

Argentina’s government, which calls funds like NML “vultures”, asked a UN maritime court to intervene and the Hamburg-based tribunal ordered the ship’s release last month.

In order to avoid the risk of having the presidential plane seized by holdout creditors, Fernandez has hired a private aircraft for a four-nation tour of Asia and the Middle East at a cost of $880,000, the government said this week.

Will that be cash or charge?

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