Saturday, October 6, 2012

Argentine Navy's $10m Flagship Has Been Seized Over Unpaid Debts

A.R.A. Libertad. Wikimedia

Real-Life Pirate Of The Caribbean: Billionaire New York Hedge Funder Seizes Argentine Navy's $10m Flagship Over Country's Unpaid Debts -- Daily Mail

If pirating didn't work out, Capt. Jack Sparrow would perhaps have made a savvy hedge fund manager.

A New York hedge fund boss is being dubbed a real pirate of the Caribbean after seizing the flagship of the Argentinian navy in an attempt to settle some of the country's huge debt.

Billionaire Paul Singer took control of the tall ship the A.R.A. Libertad with a court order in Ghana this week.

The triple-mast frigate, which stopped in the African country as it trained naval cadets, is valued at $10 million and is the ceremonial flagship of the Argentine fleet.

Read more ....

More News On the Seizure Of Argentina's Navy Flag Ship

Seized Argentine Ship Remains in Ghana -- ABC News/AP
Ghana Seizes Argentine Ship in Spat With Creditors -- Wall Street Journal
Wall Street Billionaire Battles Argentina, Has Ship Detained Over $1.6B Bond -- FOX News
A Hedge Fund Has Physically Taken Control Of A Ship Belonging To Argentina's Navy
-- Business Insider
Bond Vigilantes’ Ghana Ambush Proves Default Hex Unbroken -- Bloomberg Businessweek
The Real Story Of How A Hedge Fund Detained A Vessel In Ghana And Even Went For Argentina's 'Air Force One' -- Forbes

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