After hedge fund manager Paul Singer impounded an Argentine naval vessel in Ghana, you can't really call this paranoia.
Argentina's president, Cristina Fernandez de Kirchner, is about to embark on a four country tour, visiting Cuba, the United Arab Emirates, Indonesia and Vietnam.
Instead of taking her own jet, though, she's renting one from British charter firm Chapman Freeborn for $880,000, the AFP reports(h/t Zero hedge).
Chapman's jet is 20% more expensive, but at least it means Singer won't get a Court order to impound Fernandez de Kirchner's transportation in whatever country she happens to be in.
Argentina has been in a battle with one of Singer's subsidiary hedge funds over a $1.3 billion worth of unpaid sovereign debt for years now. Last October, Singer got an order to hold Argentina's naval vessel, the ARA Libertad in a Ghanaian port, and it was stuck there for 2 months.
Last month, the hedge fund tried to seize Argentina's assets in Belgium, but Belgium refused to allow that.
From AFP:
Oscar Parrilli, the presidency's secretary general, said in a statement that it was "highly probable" that funds would try to detain Kirchner's official Tango 01 (T-01) aircraft on her upcoming trip...
Kirchner, who rented a Chapman Freeborn charter for previous trips in 2010 and 2011, has traded barbs with British Prime Minister David Cameron over the Falklands, which Britain retained after a bloody war on the islands in 1982.
The trip starts Thursday. Could be interesting to see what happens.
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