Earlier this month, the Argentine naval sail training vessel "ARA Libertad" was arrested in the Ghanaian port of Tema following an injunction and interim preservation order granted by the Ghanaian court in Accra. The applicant was NML Capital Limited, a Cayman company which is an affiliate of the US hedge fund Elliott Capital Management.
NML Capital's success in arresting the Libertad provides a vivid example of how wide the net of enforcement can be cast, the type of asset that is subject to seizure, and the fact that states and their assets are not immune from such efforts.
Baker & McKenzie use the case to spark discussion on how enforcement issues arise in practice and whether it's possible to avoid enforcement.
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