sail-world.com
 
 
News Home Video Gallery Photo Gallery
Sail-World.com : Argentinian tall ship held hostage by Ghana
Argentinian tall ship held hostage by Ghana

'ARA Libertad, held hostage in the port of Tema, Ghana'    .

They didn't do anything as dramatic as nail a paper to the mast, but it had the same effect. Paul Singer, American hedge fund manager, succeeded in a move to get some hope of having a $1.3 billion debt from Argentina repaid. He had a Ghanian court take hostage the 100m ARA Libertad ('Liberty'), Argentina's tall ship, when it was silly enough to stay in the one place for too long.

What was supposed to be a brief stopover in Ghana during a six-month journey to South American, European and African ports turned into a farce on October 03, and it has been impounded ever since, complete with its more than 40 crew members.

Despite the estimated $50,000 per day it is being charged in mooring fees, Argentina is refusing to pay its ten-year-old debts to what it calls a 'Vulture Fund'.

The farce turned into a comic farce when the sailors aboard the ARA Libertad had their water cut off for refusing to move the boat to a less crowded part of the port where they sit.

In a move that Jack Sparrow would have been proud of, they showed their guns when port authorities tried to move them by force.

In a release, Tribunal officials observed they would like Argentina's naval officers and Ghana's authorities to 'refrain from such altercations as it rules on what will happen to the boat.'

Argentina says it will take the issue to an international tribunal if necessary: the frigate, it argues, should have never been seized because it enjoys immunity as a military vessel.

Argentina has refused to pay Singer because he didn't take two chances to restructure his debt in 2001 and 2005. A New York Court, however, has ruled that the country must pay these investors in full by December 15th.

While the legal battle that prompted its seizure raged, the ARA Libertad still languishes in the Ghanaian harbor, and, for the moment, the water is back on.

The court has said that they will come to a decision on December 6th.

We can hardly wait.


by Des Ryan

  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=104143

5:11 AM Tue 27 Nov 2012GMT


Click here for printer friendly version
Click here to send us feedback or comments about this story.


Related News Stories:

24 Nov 2012  Lovelorn Turkish sailor to be sent home after seven month quest
18 Nov 2012  Dolphins' 'mistake' leads to emergency rescue
07 Nov 2012  Another breaching whale lands on boat off South Africa
23 Oct 2012  British sail-trainers on trial over injury/dramatic rescue of novices
12 Oct 2012  Rescuer of drifting catamaran demands 200,000 dollar salvage
08 Oct 2012  British accuse French sailor of dangerous sailing - arrest warrant out
01 Oct 2012  Australians run riot, face liquor charges in Northwest Passage transit
22 Sep 2012  Lost at sea for 15 weeks before rescued - by a shark
12 Sep 2012  How far from shore to be safe? An incident tells
29 Aug 2012  Solo Atlantic crossing boat meets its ejected owners again
MORE STORIES ...






News - USA and the World

Coastal Cup sets sail from Alameda June 11 by Andrew Kopetzky, California Pacific Coast








HUD Vision: An interview with Afterguard Marine’s Alex Moret by David Schmidt, Sail-World USA Editor, Seattle














America's Cup: Expected de Ridder penalty should be reduced by Richard Gladwell/Sail-World.com/nz, Auckland, NZ


















Congressional Cup - Victory for Taylor Canfield and crew by Rich Roberts (As Amended by ISAF),




2014 Halifax – Saint-Pierre Ocean Race by Patricia Nelder, Nova Scotia














Image Gallery: Stratis SL33 flies on the Waitemata by Richard Gladwell,Sail-world.com/nz,


Audi Melges 20- Sperry Topsider Charleston Race Week - Light final day by International Audi Melges 20 Class Association,






Congressional Cup: Luna Rossa makes podium in first event
Int 14 World Championships 2015 launch new event website
International Optimist Regatta Clinic and Team Race - Register now!
Congressional Cup: World top rankers finish that way in Long Beach
Sperry Top-Sider Charleston Race Week Day 3 finale
America's Cup: Gino Morrelli outlines the new AC62 design
Doyle Sails New Zealand signs Andrew Brown as One Design Manager
America's Cup: Dean Barker's Blog - A sail with the Duke and Duchess
29er World Youth Sailing Week Easter regatta - Day 1 and 2 overall
C Thomas Clagett Jr Memorial Clinic/Regatta - Entries start to roll in
50th Congressional Cup: See the delayed coverage and media conferences
Clipper Race 10 Day 27: Closing stages - Qingdao to San Francisco
Canfield, Williams, Bruni, Swinton in Congressional Cup final four
Sperry Top-Sider Charleston Race Week - Day 2
Audi Melges 20 Charleston Race Week - Perfect conditions in Charleston
Oyster Regatta Antigua - Full on ocean conditions for day 3
PWA World Tour - A taste of things to come at La Torche + Video
Women's International Match Racing Series kicks off in June
Melges 32 Audi Tron Sailing Series - Action shots by Max Ranchi
Clipper Round the World Yacht Race - Frustrating conditions
Man rescued after falling overboard in Pacific taken to hospital   
Sperry Top-Sider Charleston Race Week 2014 - Youth leading Melges 20   
Congressional Cup - Canfield leads toward Congressional Cup sailoffs   
Sperry Top-Sider Charleston Race Week 2014 - Perfection for Day 1   
America's Cup: Coutts claims ISAF Jury on a crusade, backs Kiwi report   
Clipper Round the World Yacht Race - Will light winds hamper progress?   
Les Voiles de St. Barth - Preparing to rock Saint Barthélemy waters   
Clipper Round the World Race - OneDLL and Qingdao now in San Francisco   
America's Cup: Emirates Team NZ up against funding hurdle for year   
Melges 32 Sailing Series Napoli - Day 1 images by Stefano Gattini   
50th Congressional Cup: View the Live racing here   
Melges 32 Sailing Series - Napoli action shots by Max Ranchi   
Volvo Ocean Race - Team Alvimedica launch new boat   
Emirates Team NZ: Royals duke it out on the Waitemata   
2014 Charleston Race Week - Thousands of sailors descend on Charleston   
The Congressional Cup 2014 - Williams hangs on with a classy crowd   
50th Congressional Cup: View the Live racing here   
RORC Transatlantic Race - Notice of Race now available   
Oyster Regatta Antigua - Sunshine and smiles on day 2   
Rolex China Sea Race on the horizon   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News







Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
XL NEW US