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Ghana Ordered to Free Argentine Ship in Hedge Fund Dispute

A United Nations court said Ghana must release an Argentine naval ship seized in a dispute between the Latin American nation and a hedge fund that says it’s owed money over defaulted government bonds.

The International Tribunal for the Law of the Sea ordered the ARA Libertad freed after the African country detained it on Oct. 2, citing a court order obtained by NML Capital Ltd., which is run by billionaire hedge fund investor Paul Singer’s Elliott Management Corp. Argentina and Ghana must bear their own costs in the dispute, the Hamburg-based court said in a ruling today on its website.