The long arm of international capital has seized an Argentine navy tall ship called "Liberty" that has called on Philadelphia and other global ports in goodwill and training tours, in an attempt to make good on Argentine government bonds that defaulted back in 2001.
A court in Ghana, a West African nation and ex-British colony that is cultivating close ties with Western business after a long, unprofitable experiment with state socialism, "ordered an injunction and interim preservation order against the A.R.A. Libertad, a 100-metre long tall ship" at the request of US investor Paul Singer's hedge fund, NML Capital, managed by Elliott Capital Management Inc., a New York firm that specializes in collecting old government debts.
"Argentina slammed the interception of the Libertad as a 'trick which these unscrupulous financiers' had pulled, adding that it “violates the Vienna Convention on diplomatic immunity”, reports the Financial Times here.
From an Argentine government statement (via FT): “Vulture funds have crossed a new limit in their attacks on the Argentine republic,' by tax dodgers seeking “usurious gains... It is President Cristina Fernández de Kirchner’s decision not to give way to the extortive international and local events which vulture funds have been conducting and [the government] will continue to denounce them in different forums" such as the United Nations.