Ghana, Argentina Resolve Dispute Over Seized Ship

Ghana says it has resolved a dispute with Argentina that began with last year's seizure of an Argentinian naval ship over a massive debt claim.

Last October, Ghana ordered the ARA Libertad held in the port of Tema on a claim by a Cayman Islands-based hedge fund, NML Capital Ltd. Its owner, American billionaire Paul Singer, leads a group demanding payment in full of about $350 million for Argentine bonds bought at fire-sale prices after Argentina's 2001-2002 economic collapse.

A United Nations tribunal ordered the ship's release in December, and it returned to Argentina this past January.

But Argentina had filed a claim against Ghana at the Permanent Court of Arbitration in The Hague.

Ghana's justice ministry said in a statement Friday that the two countries had signed a settlement.