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Thursday, 6th March 2008 (2840 views)

A Florida judge has reportedly called on the Spanish government to settle its dispute with a local marine exploration firm over documents the company provided in relation to $500 million (£250 million) worth of gold and silver coins it recovered from a shipwreck last May.

Trading Markets reports that the judge, Mark A Pizzo, had warned the parties that if they cannot settle the issue soon, he will be forced to intervene.

In a previous ruling, Judge Pizzo had ordered Tampa-based Odyssey Marine Exploration to turn over documents relating to the coins, which were salvaged from the Black Swan wreck, to Spanish officials.

He also said the company must allow representatives from the Spanish culture ministry to inspect the treasure.

Tampa-based Odyssey says it has now supplied all the court-ordered documentation. It also says that the coins recovered by its operation date from the 19th century, too late for them to belong to imperial Spain.

Yet, despite the recovery taking place in international waters, Madrid says the company "plundered Spanish cultural assets", the site reports, as the Black Swan was sailing under the Spanish flag.

Spain was a formidable imperial power between the 15th and late 19th centuries, with territories in North America, South America, Africa and the Pacific.

 

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