Business Insider – The above ship is the ARA Libertad, a training ship owned by the Argentine navy. And now it’s been seized. By a hedge fund. While it was docked in Ghana.
Why? Because Argentina is in a long legal battle with the hedge fund Elliott Capital Management, which has been trying for years and years to get Argentina to pay a 2001 bond it owes in full. Because it’s recently won a court judgment saying that Argentina owes it money, it was able to get an injunction from the government of Ghana saying it’s entitled to pay the ship.
