Argentine Navy has sail training ship impounded by vulture fund

Discussion in 'The Intelligence Cell' started by velcrostripes, Oct 4, 2012.

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  1. 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 ?
     
  2. Grumblegrunt

    Grumblegrunt LE Book Reviewer

    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.
     
  3. Wordsmith

    Wordsmith LE Book Reviewer

    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
     
  4. It's what happens when you default. I can see Mrs Merkel taking back those nice shiny Leopard tanks Greece.
     
  5. 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
     

  6. Nah, its a stealth ship, runs silent on sails so it can deploy its ninja suicide penguins to knick out MPA.
     
  7. seaweed

    seaweed LE Book Reviewer

    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.
     
    • Like Like x 2
  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. 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.
     
  10. Wordsmith

    Wordsmith LE Book Reviewer

    Not to mention, our guard ship ship has more gun power...

    Victory.jpg

    Wordsmith
     
    • Like Like x 1
  11. 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. Maybe MNL are a front for MI6 ?
    Argie papers already alleging as much .....
     
  14. I think it is fitted for not with now
     
    • Like Like x 1
  15. ...but to get them back Germany might have to invade Greece. Sounds unthinkable to me...