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Activist hedge fund Elliott seeks to seize Argentina’s satellites

ValueWalk – NML Capital Ltd, a unit of Elliott Management Corp., is suing Argentina in California to seize two satellites the country is planning to launch into space. Elliott is operated by activist hedge fund manager Paul Singer. According to court documents, Argentina purchased two contracts for satellite launches in 2015 and 2016 from Space Exploration Technologies Corp.

NML is arguing the contracts are commercial property and thus not protected by sovereign immunity laws in a bid to claim a $1.7 billion settlement the hedge fund was previously awarded by a US court.

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