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Sunken treasure awarded to Spain
Legal News Line ^ | 9-26-11 | Michael P. Tremoglie

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 ...


TOPICS: Business/Economy; Foreign Affairs; Miscellaneous; News/Current Events
KEYWORDS: courts; federalcourt; maritime; ruling; spain; treasure
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1 posted on 09/26/2011 12:23:40 PM PDT by Miami Vice
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To: Miami Vice; SunkenCiv

ping


2 posted on 09/26/2011 12:27:02 PM PDT by Captain Beyond (The Hammer of the gods! (Just a cool line from a Led Zep song))
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To: Miami Vice

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


3 posted on 09/26/2011 12:27:05 PM PDT by MeganC (Are you better off than you were four years ago?)
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To: Miami Vice

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


4 posted on 09/26/2011 12:28:22 PM PDT by SeeSharp
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To: Miami Vice
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.

5 posted on 09/26/2011 12:28:50 PM PDT by grobdriver (Proud Member, Party Of No! No Socialism - No Fascism - Nobama - No Way!)
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To: Miami Vice
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...........

6 posted on 09/26/2011 12:29:06 PM PDT by Red Badger ("Treason doth never prosper.... What's the reason? Why if it prosper, none dare call it treason.")
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To: Miami Vice
wow... did the finders even get paid for the expense they incurred finding the treasure?
7 posted on 09/26/2011 12:29:37 PM PDT by TexasFreeper2009 (Obama = Epic Fail)
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To: Miami Vice

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.


8 posted on 09/26/2011 12:30:17 PM PDT by miele man
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To: Miami Vice
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.
9 posted on 09/26/2011 12:30:46 PM PDT by apillar
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To: MeganC
I’d put the treasure back where I found it.

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

10 posted on 09/26/2011 12:32:50 PM PDT by thackney (life is fragile, handle with prayer)
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To: Miami Vice

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


11 posted on 09/26/2011 12:36:21 PM PDT by JohnBrowdie (http://forum.stink-eye.net)
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To: Miami Vice

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?


12 posted on 09/26/2011 12:39:13 PM PDT by colorado tanker
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To: MeganC
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 ...

13 posted on 09/26/2011 12:39:26 PM PDT by Hodar ( Who needs laws; when this FEELS so right?)
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To: 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.


14 posted on 09/26/2011 12:39:49 PM PDT by org.whodat (Just another heartless American, hated by Perry and his fellow democrats.)
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To: Miami Vice

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.


15 posted on 09/26/2011 12:40:00 PM PDT by Sarajevo (Is it true that cannibals don't eat clowns because they taste funny?)
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To: Miami Vice

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


16 posted on 09/26/2011 12:40:09 PM PDT by mo
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To: Miami Vice
Our lovely government was actively working against a US company:

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

17 posted on 09/26/2011 12:43:17 PM PDT by FReepaholic (I'm a lumberjack and I'm ok.)
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To: JohnBrowdie
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....

18 posted on 09/26/2011 12:43:17 PM PDT by Sacajaweau
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To: 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.

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.

19 posted on 09/26/2011 12:45:19 PM PDT by apillar
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To: apillar

The news just keeps getting worse for John Edwards.


20 posted on 09/26/2011 12:50:34 PM PDT by massgopguy (I owe everything to George Bailey)
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