Almost five years ago in this blog, I wrote about Odyssey Marine’s recovery of $500 million of gold and silver coins from the Atlantic seafloor, and Spain’s lawsuit to claim the treasure. I posted several updates. But the case disappeared into the legal quagmire and I saw little word of it in the intervening years.
Now it seems a total resolution hinges on one near-certain SCOTUS denial of cert. Spain has won the case, and now has custody of the coins. Central to Spain’s victory is the claim that the vessel was a Spanish naval ship, the rights to which Spain had never relinquished, as recognized in the 1763 Treaty of Paris. I also see that my analysis at the end of the previously linked post was spot on: “I’m very skeptical of Odyssey’s confident pronouncements in press releases on its ability to retain the treasure (or at least the lion’s share) in the legal arena.” Score one for me.
Good video at CNN here.
Odyssey Marine has an informative summary of the case and its current status, here.