http://www.sptimes.com/2007/05/29/Worldandnation/Treasure_may_become_c.shtml
The Tampa Florida company Odyssey Marine Exploration (Amex OMR) is facing a court battle over who owns the treasure that many believe is the Merchant Royal.
James Goold, a maritime lawyer with Covington & Burling in Wash. D.C., said that Odyssey's refusal to identify the ship and it's cargo or location has upset Spain. "The situation is developing very rapidly, and legal action can be expected, " Goold said.
Odyssey has called the legal threat "absurd".
Odyssey Marine will get a salvage award no matter who owns the shipwreck. In past cases the finder typically retains 90% of the salvage.