Central bank assets enjoy ‘99%’ immunity

Why central bank assets possess legal immunity – but not from sanctions

Bank vault

In 2012, a vulture capital fund seeking to collect on Argentine bonds tried to seize an Argentine Navy training vessel, the sailing ship Libertad, in a Ghanaian port. The fund, NML Capital, obtained a Ghanaian court order holding the Libertad and its crew.

NML Capital never got a chance to diversify into global maritime power. The International Tribunal for the Law of the Sea ordered Ghana to release the Libertad, saying that “in accordance with general international law, a warship enjoys

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.