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Odyssey Marine Exploration Determines Media Reports Alleging Spanish Shipwreck Lawsuit To Be Incorrect

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Odyssey Marine Exploration (AMEX:OMR), a leader in the field of deep-ocean shipwreck exploration, stated today that claims in the press that the Kingdom of Spain has filed a lawsuit against Odyssey were false.

Odyssey’s counsel spoke to Jim Goold, the D.C. lawyer representing Spain, and Goold confirmed in a conversation this morning that Spain has NOT filed a lawsuit against Odyssey, and that any media reports suggesting that a lawsuit was filed are wrong.

The only document filed is a Verified Claim stating that the Spanish Government does not intend to give up property rights to any Spanish property which might be on sites on which Odyssey filed Admiralty arrests during the past year, including two unidentified colonial sites in the Atlantic Ocean and a 20th century steamship.

It has been suggested that the latest shipwreck discovered by OMR was the Merchant Royal. Spain has stated that the Merchant Royal may have been under contract to the King of Spain and therefore the treasure belongs the Spain.

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This page contains a single entry from the blog posted on May 31, 2007 11:41 AM.

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