Posted on 09/26/2011 12:23:37 PM PDT by 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 ...
(Excerpt) Read more at legalnewsline.com ...
Need somebody old enough or sick enough not to care about the consequences: destroy it.
http://www.napoleon-series.org/military/battles/1804/c_santamaria.html
The action is fictionalized in both the Horatio Hornblower and the Aubrey-Maturin series, with the fictional heroes of each respectively playing a part in the action.
You guys are exactly right. “Treasure Hunters” are going back underground. What they find will go to “treasure friendly” nations and the only way it ever finds its way into the United States is by the black market.
People will still go find this stuff, but the Spanish will never get any of it.
And the claim by descendants of the crew? Give me a break. The crew never had title to it to begin with. Government of Peru? Peru was owned by Spain when the stuff was dug up.
I have just as valid a claim on the gold as some of these people.
So if they stole it from the Mayans (or the Aztecs, or whomever they stole it from), it's theirs forever?
Oh, should never show your stuff.
Same old same old, white man screws indians.
Just before Clinton left office? Wonder how much he got paid for this signature?
I don’t think the issue should even be decided based on who originally owned it. The homesteading principle provides for re-homesteading of property that has been abandoned. It should simply be a matter of finders keepers.
Search, Salvage, Shut up.
I’ve read in the past that a warship and its contents, remains the propoerty of whatever country/navy it sailed for, but a merchant vessel is finders keepers.
If that’s what it takes for these salvage divers to keep from being robbed blind, then fire up the smelters.
Loose lips
lost a sunk ship.
Inter continental railroad—your sly humor deserves recognition!
Dump it back in the ocean; if Spain wants it, f*** ‘em, they can go get it themselves.
Whatever happened to "finders, keepers"
Since in 1804 Spain was an absolute monarchy, shouldn’t the present King of Spain—not the Spanish government—be the rightful owner, as the lineal heir to the 1804 owner?
Never happen. I'll spend $1000 a year for 20 years...all cash deals.
All such rulings do is make it certain that the next time a salvage is done, the salvage company will make d@mn sure to extract the jewels, then melt down the gold and silver, losing all historical value due to government greed. Afterwards, they will claim the salvage has been a bust, and they will sell the untraceable valuables on the world black market.
After all, the Spanish (or any other government) has abandoned the property long ago. And abandoned property should go to the finder. I personally think it was idiotic to agree to such a treaty. As a minimum, the treaty should have included a sharing clause, requiring the salvager to be be paid 100% of their costs of the salvage and the research, plus a reasonable profit percentage, and then receive a share of the salvage.
“I’ve read in the past that a warship and its contents, remains the propoerty of whatever country/navy it sailed for, but a merchant vessel is finders keepers.”
Yes you are correct, and that is what was at issue in this case. The court found that the shipwreck is the remains of a warship,and title to a warship never passes without express acknowledgement.
Also, the US Court found that it had no authority to arrest the vessel, as it was protected under sovereign immunity.
The decision goes into some interesting history: here is a link:
http://www.ca11.uscourts.gov/opinions/ops/201010269.pdf
EXCELLENT POINT!
I'm of the opinion that the Spanish Government has no more right to the salvage as do the salvagers. Maybe the next find will find its way back to Peru, and then let the Spaniards try to get it again.
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