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Admiralty & Maritime Law

Spain Seeks Sunken Ship’s Riches

Posted Jun 1, 2007 3:43 PM CDT
By Debra Cassens Weiss

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Spain has filed claims to a treasure-filled sunken ship found in the Atlantic Ocean.

Odyssey Marine Exploration of Tampa, Fla., announced two weeks ago that it had discovered the ship filled with 500,000 gold and silver coins. The company says the ship was outside Spanish territorial waters.

James Goold of Covington & Burling says Spain has rights to Spanish shipwrecks.

''It's a very well established principle under Spanish, U.S. and international law that a government such as the kingdom of Spain has not abandoned its sunken ships or sunken property,” he told Associated Press.

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