Sunken treasure awarded to Spain

Legal News Line ^ | 9-26-11 | Michael P. Tremoglie

[Miami Vice]

A sunken treasure worth about $500 million was discovered by an American company has been awarded to Spain by a three-judge panel of the U.S. Court of Appeals for the 11th Circuit.

The treasure-laden Spanish ship was located off the coast of Gibraltar in 2007. It had been sunk during a naval battle with the British navy in 1804.

Several parties made claim to the treasure. The company that made the recovery, Odyssey Marine Exploration Inc., the governments of Spain and Peru, and 25 individuals who were descendants of the sailors on the ship.

The federal district court, which heard the original case, ruled ...

[Captain Beyond]

ping

[MeganC]

Were I in charge of the company I’d put the treasure back where I found it.

[SeeSharp]

This is bad. It means future treasure hunters will simply melt historic artifacts and sell the gold, without telling anyone where it came from.

[grobdriver]

Hopefully Odyssey Marine Exploration Inc. did not publish the lat/long of the discovery.
They should just up anchor and sail away and let the Spaniards find it again.

No mention in the article of a salvage claim or award.

[Red Badger]

The court also referenced a 2001 signing statement by President Clinton which stated, "(the United States) recognizes that title to a United States or foreign sunken State craft, wherever located, is not extinguished by passage of time, regardless of when such sunken State craft was lost at sea."

The ship is Spain's. The treaty doesn't say anything about it's cargo...........

[TexasFreeper2009]

wow... did the finders even get paid for the expense they incurred finding the treasure?

[miele man]

If the courts and treaties give title to treasure and “booty” in perpetuity, then why go to the expense of hunting for treasure? These guys are in it for the money first and foremost, aren’t they? Are all treasure hunters doing this only for altruistic reasons? I doubt it.

[apillar]

That's what you get for trying to play by the rules in today's America. They should have not told a soul, crammed as much as they could into their boat, smuggled it back into the country and sold it in lots small enough not to arouse an suspicion as “Old Spanish Dabloons” that have been in my family for generations.

[thackney]

I’d put the treasure back where I found it.

I would put it someplace else, rather than the place already announced.

[JohnBrowdie]

a treaty is a treaty, even if it was signed by a huge dummie.

[colorado tanker]

The article says the U.S. and Spain have a treaty stating Spanish ships remain Spain’s property. If so, how is this an outrageous situation? Shouldn’t the company have researched the law before spending all that money?

[Hodar]

Were I in charge of the company I’d put the treasure back where I found it.

Not me, I'm greedy and evil. I'd melt the gold down into pebble-sized nuggets; buy some property in Alaska and claim I found gold there. Antiquity be d*mned; if my find is going to be stolen from me, I'll do what I can to keep the treasure I have found.

Dabloons can be traced, gold nuggets are gold nuggets ...

[org.whodat]

What does this case have to do with the rules in America, Spanish ship, Spanish court. International water. Now if it had been on the inter continental railroad, that would have been different.

[Sarajevo]

Treasure hunting never pays. Every moocher and government in the world seems to have an excuse for a share. If I’d have found it, I wouldn’t tell a soul.

[mo]

I’d make sure my Odyssey Marine Boat, full of treasure, was “lost” at sea.....

[FReepaholic]

Our lovely government was actively working against a US company:

WikiLeaks reveals a secret deal against Tampa's Odyssey Marine Exploration

[Sacajaweau]

Booty is booty...

Couple of British ships found here on the great lakes. The coordinates are not publicly known.

You don't think those archeaologists in Egypt, Peru, Mexico etc, etc aren't grave robbing....I have this bridge....

[apillar]

What does this case have to do with the rules in America, Spanish ship, Spanish court. International water. Now if it had been on the inter continental railroad, that would have been different.

It was the American Court that handed the treasure back to Spain...

A sunken treasure worth about $500 million was discovered by an American company has been awarded to Spain by a three-judge panel of the U.S. Court of Appeals for the 11th Circuit.

[massgopguy]

The news just keeps getting worse for John Edwards.