Daily Archives: January 11, 2008
Gold Breaks $900 Barrier
Judge Says, Unlock Shipwreck Treasure Secrets
Deep seas, adventure, mystery, suspense and a battle over who owns a sunken treasure ... they are the trappings of an action-adventure movie that could make hundreds of millions.
But it's not a movie. The money involved is no exaggeration and these are no mere plots titles. Everything is real. Florida based exploration, shipwreck and recovery company Odyssey Marine and the Spanish government have been waging a battle within the middle of a courtroom.
At stake are the rights to 17 tons of silver and gold coins - an enormous and extremely valuable coin hoard Odyssey discovered within the 'Black Swan', the code name they gave to the colonial-era shipwreck lying on the floor of the Atlantic Ocean.
On Thursday, Judge Mark Pizzo of U.S. District Court in Tampa ruled that Odyssey Marine must provide the location of the Black Swan and provide Spain an opportunity to inspect the treasure. In return, all information must remain confidential to protect Odyssey's interests.