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Argentine ship stuck in Africa in bondholder fight

Associated Press Modified: October 4, 2012 at 12:46 pm •  Published: October 4, 2012

A court in Ghana on Tuesday ordered the ship held in port until Argentina posts a court bond equal to its value, which could be $10 million or more. Singer would then try to collect that money.

The foreign ministry said Wednesday that Singer's hedge fund "is based in Cayman Islands, a fiscal hideout that is a colony of Great Britain, sheltering entities that refuse to submit to the laws of any jurisdiction." Singer also is the main financial backer of the American Task Force Argentina, a lobby in Washington that has spread false information about Argentina, the statement said.

An Elliott spokesman declined to comment Thursday.

But American Task Force Argentina issued a statement saying that "Argentina's status as an international scofflaw has been well-documented." It said that the Argentine government has refused to honor any of the more than 100 court judgments that international creditors have against it, even though it has "the means to pay, with more than $45 billion dollars in reserves."