Union Hits Out at Vulture Fund Swoop on Tall Ship
TF president Paddy Crumlin condemns those responsible for seizure of 'Fragata Libertad', an Argentine navy training ship, in Ghana. The detention of the ship was ordered on application to a court by Elliott Capital Management, which has bought up debt associated with bonds on which the Argentinian government defaulted in 2001. He continued: “In trying to hold hostage one government over a dispute on sovereign debt by holding the Libertad hostage, Singer shows that he only holds one thing sacred: making more profit and building his wealth.
Court Orders Argentine Tall Ship Detention
A Ghana court judge rejected plea to release the 'ARA Libertad' training ship, detained through complaint by a US hedge fund creditor. The sail training ship has been detained with more than 200 hundred crew members on board since 2, October 2012 in a port close to the West African port of Accra, reports Bernama. The ARA Libertad is a three-masted tall ship that stopped at Tema while training hundreds of Argentine navy cadets. The seizure of the flagship of Argentina's Navy stems from a complaint from a US hedge fund.
