ROVworld Subsea Information

Spain's claim to one of Odyssey's shipwreck cases dismissed
Date: Thursday, April 10, 2008 @ 14:00:00 EDT

Spain's claim to one of Odyssey's shipwreck cases dismissedOdyssey Marine Exploration, Inc., the world leader in the field of deep-ocean shipwreck exploration, announced today that Spain's claim in Admiralty case number 8:07-CV-00616 has been dismissed pursuant to a motion filed on behalf of the Government of Spain. The shipwreck in this case is believed to be a 20th century passenger liner reported to be carrying valuable cargo.

Following Odyssey's May 2007 announcement of the recovery of 17 tons of silver and gold coins from the Black Swan site, Spain filed claims with the U.S. District Court's Tampa Division in three of the Company's pending admiralty arrests. Odyssey made it clear that the Company was unaware of evidence suggesting any potential Spanish interest in the site, yet Spain pursued its claim without providing any information as to the basis for that claim.

"We are very pleased that Spain has acknowledged that its claim to this particular shipwreck is unfounded, and we are now looking forward to moving ahead in resolving all issues expeditiously with the other two cases," said Greg Stemm, Odyssey's Chief Executive Officer.

"Technically, Spain's dismissal of its claim in this case has no bearing on the other two arrests, but this shows that just because Spain files a claim against a particular wreck site does not mean it has a valid basis, or as in this case, any evidence whatsoever to support that claim," commented Melinda MacConnel, General Counsel for Odyssey.

This article comes from ROVworld Subsea Information

The URL for this story is: