News24

Seized Argentine ship heading back home

2013-01-09 21:51

Mar Del Plata - An Argentine naval ship detained for weeks in Ghana because of a financial dispute is returning home to a big welcome.

Thousands of Argentine government sympathisers have travelled to the seaside resort of Mar del Plata to celebrate the return of the ARA Libertad.

President Cristina Fernandez will head a ceremony on Friday to receive the ship.

The Libertad was impounded in October at the request of private creditors as collateral for unpaid bonds stemming from Argentina's massive debt default in 2001.

Fernandez often calls holdout creditors "vultures" who are trying to collect in full after buying Argentina's debt cheaply during its worst crisis.

The UN's International Tribunal for the Law of the Sea ordered the ship's release last month after Argentina argued that warships are immune from seizure.