Singer tried to collect his debt with over 900 seizure attempts over Argentine assets, like the one in 2012, when he tried to seize the Fragata Libertad training ship when it was docked in Ghana.

Tuesday, November 4, 2014

Hedge fund owner says will ‘continue search for Argentine assets to seize’

Elliot Management’s owner Paul Singer.

Elliot Management’s owner, billionaire Paul Singer, has warned he will continue to search for Argentine assets to seize, according to a note the hedge fund sent to investors.

Singer, who won the so-called “trial of the century” against Argentina for 1.6 million dollars in defaulted bonds, said he will boost “sanctions against the country for evading the court’s sanctions.”

US district judge Thomas Griesa had ruled against Argentina and declared the country in contempt on September 29, after it dismissed Bank of New York Mellon as payment venue and created a new one in Buenos Aires, trying to evade the judge’s sentence.

Singer said he hopes measures will be taken against Argentina during the following months.

“In the meantime,” he said, “we are going to continue our world-wide search for Argentine assets.”

Singer tried to collect his debt with over 900 seizure attempts over Argentine assets, like the one in 2012, when he tried to seize the Fragata Libertad training ship when it was docked in Ghana.