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Nov 12, 2012

Argentina to seek international help over ship seizure



Argentina says it will ask the International Sea Tribunal, based in Germany, to intervene in the dispute over its navy ship impounded in Ghana.

Foreign Minister Hector Timerman said Ghana must free the Libertad by Tuesday if it wants to avoid such an action.

The ship was stopped from leaving Ghana last month following a local court order obtained by a US hedge fund.

The fund, NML Capital, argues it is owed $370m (£231m) as a result of Argentina's debt default a decade ago.

It is seeking $20m in return for the release of the ship, a three-masted training vessel.

Argentina has vowed not to bow to what it calls "blackmail by vulture funds".
bbc

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