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Unique Cruise Solutions The news you need to know |
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Cruise News for the Corporate Travel Professional |
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The Black Swan Treasure |
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In May 2007, Odyssey Marine Exploration discovered the "Black
Swan," a Colonial period site located in the Atlantic Ocean. The site has
Yielded over 500,000 silver coins weighing more than 17 tons, hundreds of gold
coins, worked gold, and other artifacts, considered to be worth upwards of $550
Million. It is believed that this recovery constitutes the largest
collection of coins ever excavated from a deep-ocean site.  Odyssey
Marine Exploration has completed an extensive pre-disturbance archaeological
survey of the "Black Swan" site, including recording over 14,000 digital still
images which were used to create a photomosaic of the site. During the
preliminary excavation, the recovery of artifacts was accomplished under the
supervision of qualified archaeologists and followed rigorous archaeological
protocols using advanced robotic technology.The coins and artifacts were brought into the United States with a valid export license, and imported legally pursuant to US Law. Odyssey brought the recovered items under the jurisdiction of the US Federal Court by filing an Admiralty arrest action. This procedure allows any legitimate claimant with an interest in the property to make a claim. Following Odyssey’s announcement of the "Black Swan" discovery, the Kingdom of Spain filed claims contending the sunken treasure was taken from a Spanish sovereign ship in Spanish waters, and is therefore the property of Spain. However, Odyssey has stated clearly that the recovery was conducted in conformity with Salvage Law and the Law of the Sea Convention, beyond the territorial waters or contiguous zone of any country. Spain has since conceded that the treasure was not found in Spanish waters. Odyssey is confident in its position that the recovery is not subject to sovereign immunity. The coins have since been placed in a secure, undisclosed location where they are undergoing documentation and a meticulous conservation process by some of the world's most experienced coin conservators. The “Black Swan” is located in waters where a number of Colonial period ships are believed to have sunk. There is no apparent hull of a shipwreck or other sufficient evidence at the site to conclusively identify a vessel from which the treasure may have originated. One hypothesis being explored, however, suggests the treasure discovered at the "Black Swan" site may be associated with the Nuestra Señora de las Mercedes, a Spanish vessel that had been assigned to transport mail, private passengers and consignments of merchant goods and other cargoes at the time of its sinking in 1804. A claim has also been filed by Peru suggesting that Peru may have an interest in the coins recovered. A number of descendants whose ancestors were allegedly transporting goods on the Mercedes have also filed a claim in the case. Odyssey is communicating with those descendants regarding a possible salvage agreement should it be concluded that the cargo recovered did in fact, come from the Mercedes. The "Black Swan" case is currently pending in the US Court of Appeals for the Eleventh Circuit after the District Judge in the case adopted the June 3 Magistrate's Report and Recommendation indicating that the court lacked jurisdiction based on the Foreign Sovereign Immunities Act (FSIA) and thereby granting Spain's Motion to Dismiss. Odyssey believes the FSIA has been misapplied in the case to property never owned by Spain which was aboard a ship that was on a commercial mission at the time of her demise. Odyssey intends to continue to vigorously defend its right during the appeals process to what it has legally recovered. During the appeals process, the coins recovered from the "Black Swan" site will remain in the custody of Odyssey. |
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Worldwide Travel & Cruise Assoc., Inc. 150 S. University Dr. Ste E, Plantation, FL 33324 - USA Tel: +1 954 452 8800 Fax: +1 954 252 3945 EMail: sales@cruiseco.com |
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Designed & Published by: Worldwide Media. |
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