ACCRA, Ghana – Ghana says it has resolved a dispute with Argentina that began with last year's seizure of an Argentinian naval ship over a massive debt claim.
Last October, Ghana ordered the ARA Libertad held in the port of Tema on a claim by a Cayman Islands-based hedge fund, NML Capital Ltd. Its owner, American billionaire Paul Singer, leads a group demanding payment in full of about $350 million for Argentine bonds bought at fire-sale prices after Argentina's 2001-2002 economic collapse.
A United Nations tribunal ordered the ship's release in December, and it returned to Argentina this past January.
But Argentina had filed a claim against Ghana at the Permanent Court of Arbitration in The Hague.
Ghana's justice ministry said in a statement Friday that the two countries had signed a settlement.
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