A subsidiary of Elliott Capital Management seized the Libertad in a Ghanian port on Sept. 2, after it gained an injunction from a local court to hold the ship and its 200 crew members there. The fund is attempting to collect money it lost when Argentina restructured its debt after a $100 billion default in 2001, cutting payouts down to 30 cents on the dollar. The boat is a 100-meter long tall sailing ship, built in the 1950s as a training vessel for the Argentine nation and currently on a graduation tour for Naval cadets. It is valued at about $10 to $15 million.
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