Training Ship Libertad Detained in Ghana

[solerboy]

Will those two hundred sailors be left in Ghana to fend for themselves?.

What is AFIP's daily dollar allowance of holidays in Ghana ?

 

[sergio]

I should think much less than 6 pesos per day.

 

[Davidglen77]

I heard a rumor that Spain was going to pay the "fianza" take possession of the ship and re-christen it the "AFA Repsol"

 

[dennisr]

Kenneth Dart, been a thorn in Argentina's ass for quite some time: vulture funds, Elliot. Is the pariah of sovereign debt. Has an armed camp in the Caymans.

http://journalism.berkeley.edu/projects/worldandus/archives/2005/04/kenneth_dart_ar_1.php

 

[Dipoots]

Does this not amount to piracy? Or is this a completely legal action? I don't know all the details of the court ruling they seem to be referring to.

It seems logical to confiscate property belonging to people who owe you money...doing that to a whole country...now I've never heard that before.

I believe it is common. When Chavez nationalized Exxon assets in Venezuela, Venzuela international assets are at risk for compensation depending on the results of international arbitration... and Venezuela state owned oil company has a lot of assets in the US, and Exxon was going after them. Not sure what happened eventually...

So the same can be said of YPF and YPF assets overseas (if any) and more significantly, to-be partners of YPF in the specific oil assets that Repsol-YPF have expended money to make it possible for production.

 

[Davidglen77]

Wow, this even made news in a major New York newspaper:
http://www.nypost.com/p/news/national/high_eize_yO4PzlS9lcFrl4biOuGzhP

 

[rrptownley]

I saw on TN this morning (Yes, it finally appeared!) that they are accruing port costs of 48,000 dollars a day whilst it is being held.

 

[nicoenarg]

Wikipedia titled the section related to this incident on Libertad as "Vessel Arrested".

 

[cbonanni]

Under International Admiralty Law . a vessel may be seized or arrested for failure to pay for goods or services received. It is somewhat dubious to seize the Libertad as the bonds defaulted on were not services provide directly to the vessel. As a vessel belonging to the Argentine Navy , it should be protected under International Diplomacy. I assume the fund involved found a judge to bribe to allow the arrest of the Vessel. Any decent Admiralty attorney can see this. It really is a publicity stunt.

 

[scottlyon]

I'm not too impressed with the wording of the Business Insider article. I'm assuming that like Wikipedia anyone can contribute to it but unlike Wikipedia bias and opinion cannot be balanced by other people afterwards.

That said, you can't hijack a navy boat. If this were a country and not a hedge fund doing this it would be considered a declaration of war.