An Argentina-focused hedge fund has lodged a lawsuit seeking to block Ultrapetrol's restructuring plans on allegations that its assets are to be sold to its largest shareholder for a fraction of their value.
Copernico Capital Parnters' Copernico Argentina Fund filed the lawsuit in New York against the diversified shipowner's executives, board members and Southern Cross, the private equity fund whose Sparrow Capital Investments subsidiary is Ultrapetrol's majority shareholder.
The
