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Argentine creditors want 20m dollars to release ARA Libertad retained in Ghana

Wednesday, October 10th 2012 - 18:50 UTC
Full article 49 comments

Argentina is refusing to pay the 20 million dollars in ransom that New York hedge fund dealer Paul Singer is demanding in exchange for releasing the country’s Naval training vessel currently retained in the port of Tempa, Ghana, West Africa, reports the New York Post. Read full article


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  • surfer

    Pay. Your. Debts.

    Oct 10th, 2012 - 07:12 pm - Link - Report abuse 0
  • Pirat-Hunter

    20 million pesos sounds like an excellent deal to cancel a the 600 million $ scam, I think Argentina should let them have the vessel and accept the theft if the whole loan would be cancelled, because we can all agree that Argentina doesn't have or ever benefited from the scheme coocked up by IMF and their conspirators. What we should ask the courts in ghana is for the evidence showing Argentine tax payers where the money went and how it was spent because if they have rights to theft Argentine tax payers money we have the right to seek justice as well, we do want punishment for theft as well, or do we just punish everyone else while we hide the real criminals in USA and UK? Let them have the boat and take an illegal ship touring Antartica Argentina in exchange. I think USA and UK has lots of property in Argentina that we could repossess, their embassies would be a good starting point.

    Oct 10th, 2012 - 07:20 pm - Link - Report abuse 0
  • i_slept(with)Toby

    And I regret it!

    Oct 10th, 2012 - 07:31 pm - Link - Report abuse 0
  • ChrisR

    Typical penny pinching Argentina.

    Why have they instructed this Larry Otoo? He is a parochial incumbent of Fuger & Co. local law practice while Nii Odoi Odotei is a British trained Ghanian who is a partner in the same practice. Could they not afford him? Or is it the fact of being trained in the Inns of Court School of Law (City University - London) automatically makes him the 'enemy'.

    At least Singer has himself a fully rated professional representing his company. Ace Ankomah, Senior Lecturer at Ghana School of Law; Managing Partner at Bentsi-Enchill, Letsa & Ankomah.

    Well, tomorrow should see a resolution to the court case if not the situation itself.

    Does anybody REALLY believe that AG will abide by the law?

    Oct 10th, 2012 - 07:33 pm - Link - Report abuse 0
  • Santa Fe

    Ouch, that ship is going to be holed up for a loooooong time. 20 million is a lot of money for a third world country like Argentina to find

    Oct 10th, 2012 - 07:44 pm - Link - Report abuse 0
  • Ayayay

    How much food relief does UNASUR supply outside of it's borders?
    I'd really appreciate a link (:

    For example, the U.S. supplies roughly half the food relief in the world at the moment.

    Oct 10th, 2012 - 07:51 pm - Link - Report abuse 0
  • Captain Poppy

    PH ....if you RG's want justine about where the money went, ask you beloved leader to investigate. Ghana's courts are not a matter to seek justice the financial mistakes of argentina's past.
    As argentina defaulted in the past, they are now selective defaulting again by province by paying interest on bonds in toilet paper pesos. Once again argentina proves to the world that is is incapable of prudent fiscal management when it comes to honoring contractual obligations.

    As for your last statement:

    “A I think USA and UK has lots of property in Argentina that we could repossess, their embassies would be a good starting point.”

    You obviously have more balls than the idiot you call a president....asslips kirchner, only because she knows the consequences of those actions. You are too stupid and angry and arrogant of a chicocito to know any better. Asslips can rant and rave and stomp her feet, but she knows she can't take any actions otherwise she would have.

    As for Antarctica: Antarctica does not belong to any nation, but is governed under an international treaty that bars countries from owning or exploiting its land. The 1959 Antarctic Treaty, signed by 45 nations, suspended the claims of seven countries for territory in the region. Today, Antarctica is designated as “a continent for science,” and only used for peaceful purposes.

    You and argentina need to:
    1- Grow up
    2- pick up all your baggage
    3-Move on, the world is passing you by
    4-Or fade away into oblivion

    argentina is incapable of anything because it is rogue and that is not catching on with anyone. Before you know it, Brazil will be disavowing allegiance with you guys, then Columbia, now that they surpassed argentina in GDP.
    or get the hell out the way.

    Oct 10th, 2012 - 07:56 pm - Link - Report abuse 0
  • yankeeboy

    This aside, however, the president’s abrupt dismissal of his question by means of an ad hominem attack suggests something about the way her intellect functions. Kirchner’s initial reaction to any criticism—her only reaction, perhaps—is emotional rather than rational.

    Who does this sound like. Is Toby really Christina using google would explain A LOT!!!

    Oct 10th, 2012 - 08:04 pm - Link - Report abuse 0
  • Pirat-Hunter

    20 million pesos to cancel a 600 million U$ theft is a great deal if Ghana gives Argentina a receipt for the canceled 600 million loan. Other way Argentina would be better of doing expropiation of foreign property in Argentina demanding repayment of the ship from USA. Since it is US dollars in question like the cocaine from Colombia. Let the tax payer from the vulture nation accept the consequence of their actions.
    We Argentines tax payers want to see the receipts of said money and accountability by both IMF and Argentina to repay this money, without the bills and proves we can't do justice. I am sure the court will prove beyond any reasonable doubt Argentines never got a cent from said money since it was all a scheme cooked up by IMF.

    Oct 10th, 2012 - 08:08 pm - Link - Report abuse 0
  • Conqueror

    @2 Poor dummy. Emphasis on the “poor”. It's not 20 million pesos. Who would wannt your toilet paper currency? It's US$20 million. TWENTY MILLION US DOLLARS. And if you pay, it just gets knocked off the US$1.6 BILLION. You should get used to these court actions. They are going to follow argieland around the world. Get ready to be a serf. Slaving on the land 364 days of the year to pay your debts. At last estimate, argieland owes US$80.4 billion. I fancy an argie slave. Mine to kick, beat, whip, torture, crap and pee on and finally execute. By impalement. Over several weeks. Not bothered. I can wear earplugs!

    Oct 10th, 2012 - 08:12 pm - Link - Report abuse 0
  • briton

    just like the falklands,
    the whole of south America is behind CFK and argentina , and her argies bloggers .

    and juist like the falklands,
    they will do sod all, but talk the talk.
    bla bla bla ..

    Oct 10th, 2012 - 08:16 pm - Link - Report abuse 0
  • ProRG_American

    The ship will be released tomorrow Thursday. No payola.An unlawful seizure.

    Oct 10th, 2012 - 08:21 pm - Link - Report abuse 0
  • briton

    The ship will be released tomorrow

    tell us this again,,tomorrow.

    Oct 10th, 2012 - 08:26 pm - Link - Report abuse 0
  • yankeeboy

    The sun will come up tomorra betcha bottom dolla tomorra

    Oct 10th, 2012 - 08:40 pm - Link - Report abuse 0
  • toooldtodieyoung

    ARA Libertad as a Navy training vessel is on a world tour with 160 cadets on their officers’ promotion trip.

    Escapee's!!! You just look at their uniforms. I bet they all do up at the back!!! I'm telling you.

    There are 160 villages in Argentina who are missing their idiots. I knew it. They've all just spent 10 days in the ships galley, stirring chunks of jelly in cold water, waiting for them to dissolve. That's the only way of getting the mentally insane to calm down!!!

    Hey, hey........... wait a minute, could try that trick with TMBOA and see if it really works!!

    Oct 10th, 2012 - 08:49 pm - Link - Report abuse 0
  • KretinaKK

    Censorship in Argentina does exist, especially with websites that the government blocks people from accessing from Argentina. For example, these sites can not be accessed from Argentina, because they speak negatively about the Kirchner government.......leakymails .dot. com.......and.......ripoffreport .dot. com....... if you try to access these websites from Argentina they are blocked. If you are in the USA you can access them, do a search for Argentina and you will see that issues are raised about corruption in the Kirchner government, that is why they block them from view in Argentina. But here freedom of speech and freedom of press are technically illegal.

    Oct 10th, 2012 - 09:52 pm - Link - Report abuse 0
  • Pirat-Hunter

    #10 unless you have connections in the parliament to write a bill that would force Argentina to repay in dollars I doubt ghana can force repayment in any other currency when even the Argentine provinces are repaying their debt in pesos, besides you have to remember that the court can't force repayment but have the legal obligation to reach a just settlement. You may carry a watch but we have the time.
    #16 have you seen the garbage this liars puke about Argentina?? Maybe you are used to clean dishes and harvest onion for .05 $ per hr. But I am used to a 30$/salary and licking US or UK boots doesn't pay as much. You may be okay with serving tables but I rather be served. Never think in your wildest imagination you speak for native Argentine's, because you don't cretina.

    Oct 10th, 2012 - 11:36 pm - Link - Report abuse 0
  • ChrisR

    @17 Prat-Junta

    Where did you get this little gem from, because you do not have the intellect to think of it yourself “You may carry a watch but we have the time.” ha, ha, ha.?

    Unless of course you use 'I don't Think's watch, the one that doesn't work!

    Don't you just love the argies unravelling?

    Oct 11th, 2012 - 12:12 am - Link - Report abuse 0
  • sammy

    keep it up chaps,laugh a minute.chrisR,went to uruland,got bank account
    no problem.where bouts you at over there.

    Oct 11th, 2012 - 04:11 am - Link - Report abuse 0
  • mastershakejb

    @10 Conquerer
    lol! Sounds very enticing, the idea of an Argie slave.....but to behonest, I think it'd be too lazy, and talk back too much, it'd be more of an annoyance than a help. It'd probly steal from you too, constantly, and even try to poison you out of jealousy. Maybe just skip right to the impalement part, skipping over the slavery part. :P

    Oct 11th, 2012 - 06:27 am - Link - Report abuse 0
  • yankeeboy

    12. Gasp you are wrong AGAIN! What a shocker!

    Ghana to CFK No Ship for you!

    I hope the Falklands Islands buys it.

    Oct 11th, 2012 - 11:00 am - Link - Report abuse 0
  • Santa Fe

    12.. wrong again, Argentina can twist shout and lie all the want, pay up the cash!!! its only 20 million surely the RG government isnt that broke???

    Oct 11th, 2012 - 11:52 am - Link - Report abuse 0
  • Captain Poppy

    Opps....sorry asslips.....say sayanora to the Libertad:

    Oct 11th, 2012 - 11:59 am - Link - Report abuse 0
  • agent999

    but what about the Geneva convention on Argentinian immunity to everything?

    Oct 11th, 2012 - 12:11 pm - Link - Report abuse 0
  • yankeeboy

    I guess Toby is readying his hostage rescue plan.
    I hope CFK is smart enough to charter a private jet to get the people home. It would be really embarrassing if they ended up keeping that plane too!

    Oct 11th, 2012 - 12:17 pm - Link - Report abuse 0
  • ElaineB

    They have already run up $400,000 in port fees and the meter is ticking. .......

    Oct 11th, 2012 - 12:58 pm - Link - Report abuse 0
  • yankeeboy

    Little problem I see is if Arg x-fers money to keep it afloat ( pun intended) ( fuel, port charges, salaries) wouldn't that also be subject to seizure?

    There may be a round about way to do it through Embassy funds or their attorney's office but I doubt it...

    Singer has played a smart game...Hazzah!

    Oct 11th, 2012 - 01:11 pm - Link - Report abuse 0
  • ElaineB

    They have requested fuel, apparently.

    Oct 11th, 2012 - 01:19 pm - Link - Report abuse 0
  • yankeeboy

    They can request all they want but they'll need U$ to pay for it. I doubt anyone in Ghana will take an Rg check.

    Wonder how much food they have on board.

    I saw an Aerolinas plane had to make an emergency landing yesterday because it was about to run out of fuel. I am so surprised anyone takes that airline. It is so scary. Plus I bet they're next on the list for seizure. It would be fun to watch what happens when a few 1000s Rgs are stranded all over the world with no U$ to get home or stay in a hotel,

    Oh I have waited so long for this....I am almost giddy

    Oct 11th, 2012 - 01:25 pm - Link - Report abuse 0
  • ElaineB

    Ryan Air started doing that, running with the minimum fuel to save money, and after three emergency landings they have had to rethink .

    You can understand why CFKC is so reluctant to pay up because anything leaving the country will be fair game. And it will be a huge blow to her ego.

    Oct 11th, 2012 - 01:48 pm - Link - Report abuse 0
  • Captain Poppy

    #12 SO, guess what did not happen and it's Thursday? I hold that ship has a large holding tank for the head because they can't dump it in the harbor and it is going to be a long winter in Ghana

    Oct 11th, 2012 - 01:54 pm - Link - Report abuse 0
  • yankeeboy

    What do I say all the time..

    It is only yours if you can defend it.

    CFK must be upping the lithium dosage today. Who do you think will get fired this afternoon?

    Oct 11th, 2012 - 02:02 pm - Link - Report abuse 0
  • Lau-wai

    The following documents might make interesting reading: see article 2 section 3. Also, have a guess which country of mutual interet is a signatory to this convention. Note also the fact that there is no distinction between warship or merchant ship neither in this case, nor in the ratified regulation in the Hague convention, which also extends to all types of ship, even those under construction in dockyards...

    See also updated version particularly article 8 para 1.

    Check out the following document for additional information as well..
    Happy reading :-))

    Oct 11th, 2012 - 02:33 pm - Link - Report abuse 0
  • yankeeboy

    33. That would be accurate BUT Argentina WAIVED IMMUNITY when they issued the bonds. Can't you get that through your thick head Toby?

    I think Toby is really CFK....

    Oct 11th, 2012 - 02:41 pm - Link - Report abuse 0
  • ElaineB

    ”The defence applicant (Argentina) had made it so clear in the transaction agreement that it was waving such immunity and it is my view that the action being sought by the plaintiff is binding in accordance with the laws,“ the judge said in a statement.

    ”We are not insisting on cash payment, neither are we asking for the full amount. Our position is that we'd release the vessel if they are able to get a bank to issue the bond to us,” Ankomah said. Good luck with that.

    Meantime the fuel is running low and the port fees are rising.

    Oct 11th, 2012 - 03:32 pm - Link - Report abuse 0
  • Lau-wai

    @34 - mmm not sure I understand your answer...sounds a bit ambiguous to me. What is true though, is that none of the clauses in the convention were contested or deleted by right or option, by Argentina. In fact, the full content of the convention was translated into national law / decree, which also includes the commercial clauses of the Hague treaty....negating any distinction between merchant and war ship.

    @16 how about VPN para todos?

    Oct 11th, 2012 - 03:39 pm - Link - Report abuse 0
  • yankeeboy

    How is waiving immunity ambiguous?
    Argentina is a known scofflaw nobody wanted to buy the crappy bonds in the 1st place so to get them sold they WAIVED IMMUNITY. This is why they are having so many issues ALL OVER THE WORLD and will NEVER be able to issue Int'l bonds until the holdouts are settled.
    CFK is cornered, watch out for cornered animals they get very erratic and can bite and lash out.

    Oct 11th, 2012 - 03:59 pm - Link - Report abuse 0
  • scarfo


    The ship will be released tomorrow Thursday. No payola.An unlawful seizure.

    you were saying??? lol

    Oct 11th, 2012 - 04:57 pm - Link - Report abuse 0
  • Santa Fe

    hey Mr Wooo The facts are it ain't going anywhere, pay you debts. I've heard the Ghanaians are nationalising it!!!! taste of your own medicine plastic face

    Oct 11th, 2012 - 05:19 pm - Link - Report abuse 0
  • briton

    12 ProRG_American (
    The ship will be released tomorrow Thursday. No payola.An unlawful seizure

    And its still being held,

    All you lot can do is talk.

    One suggests CFK zips it, before Ghana puts you lot in your place.lolol

    Oct 11th, 2012 - 05:48 pm - Link - Report abuse 0
  • Teaboy2

    And the ruling is the seizure was Legal - Say goodbye to your Flagship argentina

    Oct 11th, 2012 - 06:14 pm - Link - Report abuse 0
  • Captain Poppy

    I assume starting relatively soon that Aerolinas flights will not longer be Trans Well.....maybe Mexico at best

    Oct 11th, 2012 - 06:21 pm - Link - Report abuse 0
  • briton

    Apparently CFK is spitting brits out of her mouth, blaming us,
    She will call on the UN and the OAS , and anyone else she can find,
    That this is not a bilateral issue, but a world issue,

    She will demand a blockade, ban all Ghanaian ships from south American ports.
    Bla bla ha ha blab la ha ha .

    Oct 11th, 2012 - 06:44 pm - Link - Report abuse 0
  • ChrisR

    The argies could always send one of their nuclear subs over to sink it.

    Oh, oh. Spotted a flaw in my logic! The argies DON'T HAVE ANY.

    LOL, LOL.

    Oct 11th, 2012 - 06:47 pm - Link - Report abuse 0
  • LEPRecon

    Oh dear, it looks like the Ghanaian courts aren't impressed with Argentina's argument.

    What will CFK do next?

    Another shopping trip to New York under the guise of whinging at the UN perhaps? I mean nothing cheers her up than buying a US$1,000 pair of designer shoes! You know, the kind you just can't get in B.A. these days.

    Oct 11th, 2012 - 09:07 pm - Link - Report abuse 0
  • Acchiappaladri

    When serious Argentines (recent street protests hint for some million of them) get rid of their LADROPROGRESISTAS eventually?????
    Tomorrow is too late, hurry up please ;-)

    There is a judge in Accra! Kudos to Him.

    At least 70 thousand individual holdouts in Italy, a few tens thounsand more in Germany, Japan, etc., most of them small saving investors who in the '90s made the terrible mistake of trusting Argentina, believing that the words written by Argentina in its contracts with the bondholders meant in Argentina what they meant and still mean in Accra, London, Frankfurt, New York, Washington ... everywhere else around the globe, applaude!

    Argentina, pay your debt.

    Oct 11th, 2012 - 10:26 pm - Link - Report abuse 0
  • David Cameron

    News is coming in that they know that Argentina cannot afford the 20m dollars and have decided to scrap it and get money from the this way.

    160 cadets on their officers’ promotion trip and the rest of the contingent have been given a few small rowing boats and a map and have been told to gain experience by rowing home using the stars.

    One Brazilian Cadet was heard to say “ trust those fucking wankers to fuck it it up will we ever learn not to trust the tossers ” The Argentine cadets meanwhile are making the African cadets row to which one African cadet was heard to say ”don't worry brothers the daft bastards don't know we are rowing in the wrong direction and we will all be back home in our villages in no time at all.

    Oct 12th, 2012 - 03:29 pm - Link - Report abuse 0
  • Santa Fe

    Any news on the diplomatic mission to release it????

    Oct 12th, 2012 - 04:09 pm - Link - Report abuse 0
  • British_Kirchnerist

    Well done Cristina for standing up to these truly abominable vulture funds, besos!

    #8&33 Toby doesn't even seem to like Cristina. Then again, another great leader, Nehru of India, once sent an anonymous letter to a paper warning against blind support for...himself! So I suppose theres an outside chance =)

    Oct 19th, 2012 - 11:46 pm - Link - Report abuse 0

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