BREAKING NEWS

Argentine leader orders evacuation of ship seized in Ghana

By REUTERS

OCTOBER 21, 2012 04:39

LIMA - Argentina's president on Saturday ordered 326 sailors to evacuate a Navy frigate that was seized in Ghana to help bondholders try to recoup debts from the South American country's 2002 default.

The Libertad, a training frigate, was detained in the Ghanaian port of Tema on Oct. 2 under a court order obtained by NML Capital Ltd, an affiliate of investment firm Elliott Management.

The firm says Argentina owes it over $300 million on defaulted sovereign bonds and it will only release the ship if the country pays it at least $20 million.

President Cristina Fernandez, according to Argentina's foreign ministry, said the crew's human rights were being violated because the judge had prohibited fuel deliveries to the ship - leaving it without power needed for plumbing, electricity, keeping food fresh and responding to emergencies such as a fire.

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