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Argentine Navy has sail training ship impounded by vulture fund

Grumblegrunt

LE
Book Reviewer
#2
shame that - vulture funds are particularly evil entities and it is after all a training ship. mind you it is capable of retaking the malvinas so at least its off the board.
 

Wordsmith

LE
Book Reviewer
#3
Argentine Navy has sail training ship impounded by vulture fund

Tee Hee . The 3600 ton frigate " Libertad " has been siezed in port in Ghana .
A vulture fund owed money by the Argie Govt got a High Court order impounding the vessel .

Argentine navy frigate

http://en.wikipedia.org/wiki/ARA_Libertad_(Q-2)

Built in the 1950's , it can accommodate 350 .

I wonder if Branson will be interested in buying it ?
Ryan Air will buy it, cram 3,500 into it, hit you with hidden booking charges and charge you extra to put your baggage in the hold.

Wordsmith
 
#5
shame that - vulture funds are particularly evil entities and it is after all a training ship. mind you it is capable of retaking the malvinas so at least its off the board.
Oh come on , they would have a job recapturing the Malvinas with it this .....

In any case , the Argentine Navy is a far more evil entity than any vulture fund .

300px-Q2ARALibertad.jpg
 

seaweed

LE
Book Reviewer
#7
Hilarious, serves them right for having a man with a gun shooing me away when I tried to take a pic of it in BA in 1972. St Schadenfreude just keeps giving.
 
#8
Much as i like argie bashing.

The "vulture" funds are just scumbags who need slapping down hard.
argentina went bust majority of banks sucked it up vulture funds think theres money to be made.
Bit like the ******* who demanded there bonuses after there bank went bust.
 
#9
Much as i like argie bashing.

The "vulture" funds are just scumbags who need slapping down hard.
argentina went bust majority of banks sucked it up vulture funds think theres money to be made.
Bit like the ******* who demanded there bonuses after there bank went bust.

I've never heard of "vulture funds" before. However what's wrong with getting back money owed to you when it's available?
Wonder if this could be the thin end of the wedge and we see more seizures of property by disgruntled lenders.
 
#11
Much as i like argie bashing.

The "vulture" funds are just scumbags who need slapping down hard.
argentina went bust majority of banks sucked it up vulture funds think theres money to be made.
Bit like the ******* who demanded there bonuses after there bank went bust.
BH : **** 'em . The original debt was clocked up re arming for the war with Chile that never happened
and for the '82 invasion which did , plus they had ample opportunity to pay , see below .

From the Business Recorder :

Between 2005 and 2010 Argentina refinanced and rescheduled its repayment of 93 percent of the almost $100 billion default it incurred in 2001.

Among the unsettled business were bonds held by speculative funds seeking to recoup their money through the courts.

Argentina also has more than $6.5 billion in debt with the Paris Club of government creditors.

In Washington, the non-governmental American Task Force Argentina, which seeks fair resolution of the Argentine default, voiced its dismay.

"Argentina's status as an international scofflaw has been well documented," the AFFA said in a statement. "International creditors have won more than 100 court judgments against the Argentina government, but Argentina has refused to honor any of these judgments, even though it has the means to pay, with more then $45 billion in reserves."
 
#12
Its not "owed" to them

Vulture fund - Wikipedia, the free encyclopedia

They buy debt thats worthless and then attempt to sue the goverment that owes it for a much large sum.
Been fucked off from operating in the uk courts.
They are morally ***** because being hold outs they relie on everybody else sorting out the Bankruptcy procedures taking a 90% hit. But then try to a full payement for the debt they brought.
 
#13
Its not "owed" to them

Vulture fund - Wikipedia, the free encyclopedia

They buy debt thats worthless and then attempt to sue the goverment that owes it for a much large sum.
Been fucked off from operating in the uk courts.
They are morally ***** because being hold outs they relie on everybody else sorting out the Bankruptcy procedures taking a 90% hit. But then try to a full payement for the debt they brought.
Maybe MNL are a front for MI6 ?
Argie papers already alleging as much .....
 
#16
Its not "owed" to them

Vulture fund - Wikipedia, the free encyclopedia

They buy debt thats worthless and then attempt to sue the goverment that owes it for a much large sum.
Been fucked off from operating in the uk courts.
They are morally ***** because being hold outs they relie on everybody else sorting out the Bankruptcy procedures taking a 90% hit. But then try to a full payement for the debt they brought.

Perhaps morally wrong, but sound like good business. Nobody on here ever bought anything from a pawnbroker or "Cash Convertors"? Or dare I say, some electronic goods from a squaddy a few days before pay day.
 

Travelgall

MIA
Kit Reviewer
#18
Looks like KFC will have to forgo some of those Beauty Treatments if she wants to steal the islands again. You would think that Left wingers like Frau Kirchner would have learnt that if you want to fight wars of choice you have to cut your debts.
 

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