Sign in to comment!



Argentine president orders immediate evacuation of navy ship seized for in Ghana for bad debts

Argentina has decided to evacuate about 300 crew members from the ARA Libertad, a navy training ship seized in Ghana nearly three weeks ago in a legal dispute over debts.

Only the captain and a few sailors will remain on the sailing ship, which is being held as collateral for debts owed to NML Capital Ltd. and billionaire Paul Singer. Singer leads a group demanding payment in full plus interest for Argentine bonds bought at fire sale prices after the country's economy collapsed a decade ago.

NML offered to let the ship leave for $20 million, but Argentina is refusing to pay what it calls extortion money.

The crew includes sailors from Brazil, Chile, Uruguay, Paraguay, Venezuela, Ecuador, Bolivia and South Africa.