Singer’s NML Sues Musk’s SpaceX over Argentina Contracts
Billionaire Paul Singer’s NML Capital Ltd., seeking to enforce $1.7 billion in judgments over Argentina’s defaulted bonds, sued billionaire Elon Musk’s Space Exploration Technologies Corp. along with the South American nation for its rights to at least two satellite launches.
Through its National Space Activities Commission, Argentina has contracted with SpaceX for launches from Vandenberg Air Force Base in California, scheduled for 2015 and 2016, according to the complaint filed today in Los Angeles federal court. In doing so, NML said, the country has acquired property in the U.S. that can be seized, according to the complaint.
“Argentina’s contract for SpaceX launch slots clearly constitutes property used for a commercial activity, which means a creditor, like my client NML, can seize it under the applicable law,” Robert Cohen, a lawyer for the firm, said in a statement.