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| Seizure of Ship From Argentina Forces Shake-Up | Seizure of Ship From Argentina Forces Shake-Up |
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| BUENOS AIRES — Argentina’s military intelligence director resigned Thursday, the latest casualty in a dispute between Argentina and an American hedge fund over ownership of an Argentine Navy training vessel that is impounded at a port in West Africa. | BUENOS AIRES — Argentina’s military intelligence director resigned Thursday, the latest casualty in a dispute between Argentina and an American hedge fund over ownership of an Argentine Navy training vessel that is impounded at a port in West Africa. |
| The departure of María Lourdes Puente Olivera, a civilian and the first woman to lead the intelligence agency, comes two days after the resignation of Argentina’s navy chief and the suspension of two other highly placed navy officials. Those events came amid a Defense Ministry investigation into a last-minute change to the vessel’s itinerary, which had it stop in Ghana rather than Nigeria, as originally planned. | The departure of María Lourdes Puente Olivera, a civilian and the first woman to lead the intelligence agency, comes two days after the resignation of Argentina’s navy chief and the suspension of two other highly placed navy officials. Those events came amid a Defense Ministry investigation into a last-minute change to the vessel’s itinerary, which had it stop in Ghana rather than Nigeria, as originally planned. |
| The Libertad, a three-mast tall ship with 330 navy cadets and crew aboard, was seized at Tema, an industrial port east of Ghana’s capital, Accra, on Oct. 2 through a court order obtained by N.M.L. Capital, a holdout creditor from Argentina’s default a decade ago that says it is owed more than $370 million. The creditor is among a few remaining holdouts to refuse debt restructuring agreements in 2005 and 2010. It had tracked the vessel through the Libertad’s Web site. | The Libertad, a three-mast tall ship with 330 navy cadets and crew aboard, was seized at Tema, an industrial port east of Ghana’s capital, Accra, on Oct. 2 through a court order obtained by N.M.L. Capital, a holdout creditor from Argentina’s default a decade ago that says it is owed more than $370 million. The creditor is among a few remaining holdouts to refuse debt restructuring agreements in 2005 and 2010. It had tracked the vessel through the Libertad’s Web site. |
| N.M.L., a subsidiary of Elliott Capital, a New York-based hedge fund with $20 billion under management, offered to release the ship if Argentina paid a $20 million security. It also offered to bear the costs of flying the sailors home. | N.M.L., a subsidiary of Elliott Capital, a New York-based hedge fund with $20 billion under management, offered to release the ship if Argentina paid a $20 million security. It also offered to bear the costs of flying the sailors home. |
| Argentina’s foreign minister, Héctor Timerman, said in a statement, “The vulture funds have crossed a boundary in their attacks on the Argentine republic.” He said the seizure violated the Vienna Convention, which grants military vessels diplomatic immunity. | Argentina’s foreign minister, Héctor Timerman, said in a statement, “The vulture funds have crossed a boundary in their attacks on the Argentine republic.” He said the seizure violated the Vienna Convention, which grants military vessels diplomatic immunity. |
| A judge in Accra ruled last Friday against that defense, saying Argentina “has in clear terms waived the immunity attributed to the vessel” in the contract it signed with N.M.L. Argentina sent a delegation of junior ministers last week to meet with government officials in Ghana. The Foreign Ministry spokesman, Mariano Lapeyre, declined to comment on the continuing talks. | A judge in Accra ruled last Friday against that defense, saying Argentina “has in clear terms waived the immunity attributed to the vessel” in the contract it signed with N.M.L. Argentina sent a delegation of junior ministers last week to meet with government officials in Ghana. The Foreign Ministry spokesman, Mariano Lapeyre, declined to comment on the continuing talks. |
| Evidence has surfaced that the Foreign Ministry, the Defense Ministry and the navy were aware that the Libertad, built in Argentina in 1953 to train cadets and to serve as an emblem of Argentine diplomacy on distant shores, could be at risk of seizure in countries with claims pending against Argentina. | Evidence has surfaced that the Foreign Ministry, the Defense Ministry and the navy were aware that the Libertad, built in Argentina in 1953 to train cadets and to serve as an emblem of Argentine diplomacy on distant shores, could be at risk of seizure in countries with claims pending against Argentina. |
| As the final details of the Libertad’s voyage were approved in May, a letter written by the foreign affairs secretary and circulated among top officials warned that the ship “could be embargoed by authorities of European member states where there are legal processes against the republic under way, as in the case of Germany, Belgium, Italy and France.” | As the final details of the Libertad’s voyage were approved in May, a letter written by the foreign affairs secretary and circulated among top officials warned that the ship “could be embargoed by authorities of European member states where there are legal processes against the republic under way, as in the case of Germany, Belgium, Italy and France.” |
| The Libertad set sail in June. Tema was its 11th port of call in a six-month trip to countries on the coasts of the Atlantic Ocean. | The Libertad set sail in June. Tema was its 11th port of call in a six-month trip to countries on the coasts of the Atlantic Ocean. |
| Argentina is accruing daily $50,000 berth fees while the Libertad is docked at the Tema port. | Argentina is accruing daily $50,000 berth fees while the Libertad is docked at the Tema port. |
This article has been revised to reflect the following correction: | This article has been revised to reflect the following correction: |
| Correction: October 22, 2012 | |
An | An article on Friday about a dispute between Argentina and an American hedge fund over ownership of an Argentine Navy training vessel misspelled part of the name of the hedge fund. It is Elliott Capital, not Elliot. |