ARA Libertad, a training ship owned by the Argentinian Navy, is one of the most storied tall ships at sea.
Yesterday, It was just seized by the hedge fund Elliott Management while it was docked in Ghana because of a bond debt the country owes to the firm.
Basically, Elliott has been pursuing a full payment from Argentina on sovereign debt for some time, and it was able to get the government of Ghana to give it what was essentially an arrest warrant on the ship in exchange for its debts.
BUENOS AIRES, Argentina (AP) — Argentina announced the immediate evacuation Saturday of about 300 crew members from the ARA Libertad, a navy training ship seized in Africa nearly three weeks ago as collateral for unpaid bonds dating... Read Post
Last Wednesday, sailors aboard the Argentine naval ship held in Ghana by hedge fund manager Paul Singer drew their guns, the WSJ reports. The ship, The ARA Libertad, has been docked there since last month, when officials presented t... Read Post
The above ship is the ARA Libertad, a training ship owned by the Argentine navy. And now it's been seized. By a hedge fund. While it was docked in Ghana. Why? Because Argentina is in a long legal battle with the hedge fund Elliott C... Read Post