The Ghanaian government indicated on Sunday that it will review the recent ruling by the International Court for the Law of the Sea ordering the African nation to release the Argentine Navy Libertad frigate, which remains impounded there since October 2.
The international court, located in Hamburg, Germany, “unanimously” called on Saturday for the Ghanaian authorities to “immediately release the Libertad frigate,” retained in the Ghanaian port city of Tema since October 2 due to a legal conflict with NML Capital.
“The Ghanaian government has carefully noted the court’s decision,” the Ghanaian Deputy Minister of Foreign Relations Chris Kpodo said.
“The Ghanaian government will carefully review the court order in order to abide by it by taking into account our country’s constitutional requirements and International obligations,” he added.
Kpodo did not provide any further details, but explained that the conflict is between Argentina and the hedge fund NML, which is demanding over 300 million dollars, capital and interest, in defaulted bonds from Argentina.
The US investment fund criticized the court’s tribunal, which calls for the releasing of the frigate.
“Only Ghanaian courts have jurisdiction over this dispute. This is where this has been argued and will continue to be argued,” the company said.
Argentine Foreign minister Hector Timerman said the release of the Navy’s flagship ordered by the Hamburg court openly supports Argentina’s position in its struggle with the speculative ‘vulture funds’.
ARA Libertad was on its annual instruction tour with a crew of 326, mostly naval cadets in their graduation course, which besides Argentines had future naval officers from Uruguay, Chile, Brazil, Paraguay, South Africa and Venezuela. It was impounded on 2 October on reaching the port of Tema on request from a New York court acting from NML Capital, belonging to financer Paul Singer.
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Whilst they are debating it, she's announcing that 40 personel are flying there today, jumping the gun a bit! I assume she has obtained the correct visas etc. Oh, she will get it back okay, but if she tries to rub the Ghanaians nose in it, she would do well to remember, that they to0 have national pride and will not take kindlly to being bullied.Dec 17th, 2012 - 07:58 am 0
I thought it was over and done with. Well at least according to many on here.Dec 17th, 2012 - 09:33 am 0
I sure hope Argentina will abide by Ghana's constitutional requirements and International obligations. It's a bit hard to call for a foreign judge's impeachment as easily as it to call for a domestic judge's.
Fingers crossed this is far from over. I hope that the tub will still be held in dock this time next year under some new owners (NML).Dec 17th, 2012 - 09:44 am 0