PBH / colombia (active forums more▼ | travelguide | pictures) / post

Treasure Hunters screwed

comes as no surprise.

BOGOTA (AFP) - Colombia's Supreme Court has ruled against US treasure hunters who claimed half of the estimated two billion dollars in gold, silver and emeralds aboard a Spanish galleon sunk in the Caribbean in 1708.
ADVERTISEMENT

The court decision, released Friday, called excessive the claim filed by Sea Search Armada, which found the remains of the San Jose in 1982 off Cartagena after a search said to have cost 12 million dollars.

The US company sued to demand compliance with a 1979 contract that gave it rights to half of whatever was recovered from the San Jose.

However, the court said the galleon was part of Colombia's historical heritage and "none of these goods may become private property."

In 1984, then-president of Colombia Belisario Betancourt offered to allow Sea Search Armada half of whatever was recovered.

The ship is located at a depth of 210 meters (690 feet) and was found using specialized ships and a submarine.

The San Jose was one of the largest cargo ships in the Spanish fleet. It sank June 7, 1708 near the Islas del Rosario, off Colombia's Caribbean coast, during combat with English ships attempting to take its cargo.

According to a Colombian shipwreck commission, the San Jose carried ingots of gold, silver and emeralds, which a private company estimated were worth two billion dollars.

http://news.yahoo.com/s/afp/20070707/ts_alt_afp/colombiausshipwreck

By lochdhu on Jul 7, 2007, 10:02 in Friendly Talkzone.

Miguel_Clavo says on Jul 7, 2007, 10:58:

same story but different outcome....seems the split is different.....

BOGOTA, Colombia (AP) - A Spanish galleon that sank 300 years ago laden with treasure must first be recovered before an international dispute over the fortune can be settled, Colombia's highest court ruled Thursday.

The shipwreck of the San Jose is thought to have $2 billion worth of gold, silver and emeralds in what may be the world's largest sunken treasure.

The Supreme Court ruled that once the San Jose is lifted from the sea, experts can classify its artifacts following Colombian law.

Pieces declared "treasure" will be split evenly between the Colombian government and Sea Search Armada, the Seattle-based company that claims to have discovered the shipwreck. Items classified as part of Colombia's cultural patrimony will be awarded solely to the government.

"I would rather die living life, than to live a dying life."........ Oh, and my PM is always ON. Great Bumper Sticker: "Home of the Free, Because of the Brave"

0 funny, 0 helpful.

juancegomez says on Jul 7, 2007, 12:33:

Miguel Clavo's right as far as I know, and an interview on W Radio with Sea Search's lawyer indicates that he's quite satisfied with the result.

Basically, the real outcome of the ruling seems to be this:

a)Artifacts belonging to Colombia's cultural patrimony are, in fact, solely belonging to the Colombian state.

b)The original 50/50 contract with Sea Search is otherwise upheld as far as everything making up the rest of the treasure is concerned.

c)Since the vessel came from Peru, the number of Colombian cultural artifacts in it would appear to be rather low or even non-existent, at first glance.

So, lochdhu, you should actually be the one surprised here.

Btw, the article you've posted also contains several obvious errors in it (for example, Betancur actually ridiculously reduced Sea Search's % of the loot, NOT "offered to allow Sea Search Armada half of whatever was recovered.") which IMHO are signs of sloppiness or merely ignorance on the reporter's side.

0 funny, 0 helpful.

lochdhu says on Jul 7, 2007, 15:09:

Gomez
I am not the reporter who wrote the story, nor is it my job to fack check everything in that story, it just happened to come across my desk, and I remember a previous post about this, but was unable to find it, so I started a new thread with the updated info. so don't shoot the messenger ok?

0 funny, 0 helpful.

juancegomez says on Jul 8, 2007, 11:21:

I'm not shooting you, per se, but only the article itself and the particular conclusion you reached.

0 funny, 0 helpful.

Shanidar says on Jul 10, 2007, 16:31:

someone please 'splain me why Maritime law doesn't apply. Under Maritime law, salvage is a right of the person/party who finds the wreck.

Recently England changed their laws to confict with Maritime Law, but it is very uncommon and Maritime law predates most countries in the Western Hemisphere...

0 funny, 0 helpful.