ITLOS rules in favour of Ghana in long-standing maritime dispute with Côte d’Ivoire

On 23 September 2017, a Special Chamber of the International Tribunal for the Law of the Sea (ITLOS) delivered its judgment on the longstanding maritime boundary dispute between Ghana and Côte d’Ivoire.

The Special Chamber reconfirmed the relevance of the equidistance methodology in determining the maritime boundary between the two States. The judgment also touches on important issues affecting States and international companies operating in disputed waters such as the applicable obligations pending resolution of such disputes.
Continue reading

ARA Libertad leaves Ghana following ITLOS ruling on Argentina’s application for provisional measures

As reported in our earlier blog post, on 29 and 30 November 2012, the International Tribunal for the Law of the Sea (the ITLOS) heard an application by Argentina for provisional measures against Ghana under Article 290(5) of the UN Convention on the Law of the Sea (UNCLOS) regarding the detention of its naval ship, the ARA Libertad. The ARA Libertad was detained in Ghana following a successful application in the High Court in Accra by NML Capital, one of Argentina’s creditors (see our earlier blog post). Argentina commenced arbitration proceedings against Ghana under Annex VII of UNCLOS and, by way of its application for interim relief, sought an order requiring Ghana unconditionally to release the frigate.

On 15 December 2012, the ITLOS granted the requested provisional measures, ordering Ghana to release the ARA Libertad and ensure that it, its commander and crew are able to leave the maritime areas under the jurisdiction of Ghana. Ghana has complied with the ruling, and the Libertad set sail from Tema yesterday.

The full Order can be found here.

Continue reading

Argentina v Ghana at the International Tribunal for the Law of the Sea: the continuing saga of the ARA Libertad

On 29 and 30 November 2012, the International Tribunal for the Law of the Sea (ITLOS) heard an application by Argentina for provisional measures against Ghana under Article 290(5) of the UN Convention on the Law of the Sea (UNCLOS). The application is regarding Ghana’s continued detention of the Argentine warship, the ARA Libertad. The ITLOS action is the latest instalment in Argentina’s long-running battle with a number of holdout bondholders who are pursuing Argentine state assets around the globe in a bid to recoup their substantial losses following Argentina’s default on US$80 billion of public debt in 2001.

The vessel was detained in the Ghanaian port of Tema on 2 October 2012 when one of Argentina’s creditors, NML Capital, successfully obtained an injunction detaining the vessel from the Ghanaian High Court in Accra. A subsequent challenge to the injunction by the Argentine government on the grounds of state immunity was unsuccessful (which we covered here). Argentina has since filed an appeal against that decision with the Ghanaian Court of Appeal, which is expected to be heard in January 2013. NML Capital is owed just under US$300 million by Argentina, and has sought to enforce judgments handed down in its favour by the US courts against Argentine state assets around the globe.

Continue reading

NML Capital and Argentina: Ghanaian court rejects Argentina’s sovereign immunity challenge and NML Capital targets second vessel in South Africa

On 25 October, News agencies reported that a second Argentine navy vessel has been targeted by NML Capital, this time in South Africa. This followed the news on 11 October 2012, that the Ghanaian Commercial Court in Accra rejected a motion filed by the Argentinian government for the release of the ARA Libertad, an Argentine military training vessel. The ship had been detained in the Ghanaian port of Tema at the request of NML Capital, a subsidiary of the hedge fund Elliott Capital Management which is a creditor of the Argentine government. Elliott Capital is owed just under $300m by the Argentinian government following the country’s default on $80 billion of public debt in 2001, the largest in history. The court ruled that Argentina had waived its sovereign immunity in relation to claims by NML Capital, a topic we covered in our webinar earlier this month on sovereign immunity and enforcement against state assets.

Continue reading