The Argentine Navy tall ship frigate Libertad docked in Liverpool on Saturday on its first visit to the Mersey River in 24 years. Arriving in style to the sound of The Beatles, the crew band had been practicing Yellow Submarine since they left Argentina. Docked at Liverpool's cruise terminal she was open to the public on Sunday.
You can set sail peacefully, because there will be no repeat of the 2012 situation, president Mauricio Macri told officers, crew and cadets of the Navy's training tall ship Libertad that is ready to set off for the annual tour. Macri was referring to the incident in Ghana when the vessel was seized on an injunction request from one of the holdout funds litigating Argentina over defaulted bonds.
By Martin Guzman and Joseph E. Stiglitz (*) - Perhaps the most complex trial in history between a sovereign nation, Argentina, and its bondholders — including a group of United States-based hedge funds — officially came to an end yesterday (March 31) when the Argentine Senate ratified a settlement.
Elliott Management Corp., a New York-based hedge fund that invested in distressed Argentine government bonds well over a decade ago, will have made a $2.4 billion profit on its wager once this week's settlement is finalized, the Wall Street Journal said.
Argentine Central bank chief Alejandro Vanoli, said the country will be not getting down on its knees in a negotiation with 'vulture funds' (hedge funds), once the January first date comes and the controversial RUFO clause, (preventing Argentina from voluntarily offering holdout creditors better terms than those of its 2005 and 2010 restructurings), falls.
Uruguayan president Jose Mujica is scheduled to attend a reception on Saturday at Argentina's tall ship Libertad, which together with several similar vessels is participating in the '2014 Latin American Sails' tour of thirteen Latin American and Caribbean ports, and on Friday arrived to Punta del Este.
Argentina admitted that it stepped down at last minute from participating in South America's largest military air exercise in Brazil, Cruzex 2013 to avoid any possible injunction situations as that experienced by the Navy's three mast frigate that ended retained in a port of Ghana.
An Argentine lawmaker claims that the US oil corporation Chevron which is investing heavily in developing shale resources in Neuquen with YPF is a partner of Oil Spill Response Limited that is also involved with the oil companies operating in the South Atlantic in Argentine waters but licensed by the Falkland Islands government.
President Cristina Fernandez revealed during the Mercosur summit in Uruguay on Friday that as a result of the judicial dispute between Argentina and the hedge funds, a few countries in Europe are not a flying option for her.
Argentina’s flagship the tall mast frigate ARA Libertad which last year was retained in Ghana for 77 days, unexpectedly suspended until 2014 the beginning of its annual instruction trip which was scheduled to leave Buenos Aires this weekend.