| Not surprising..That's always the problem with these companies looking for buried treasures.
It seems like the minute someone finds something valuable up for grabs, everyone comes out of the woodwork and claims some kind of royalty to it. And that's literally where they got that term -Spain literally has the "royalty" on ANY of their marine artifacts oin the sea floor, because at one point in time, it was property of the king/dom of Spain.
However, if Spain isn't going after the lost artifacts, and an American company finds it, shouldn't they atleast be able to split the findings? I beleive that's what OMEX failed to do - was establish a contractual basis with spain for the profit sharing of the recovered treasure. Otherwise Odyssey did a poor job covering their bases in that department.
I have a friend who'd pulled out his money out of that company after this whole ordeal with Spain threatening their naval power to capture Odyssey's treasure bearing ship from leaving Gilbraltar. Maybe the decision makers over at OMEX learned some hard lessons over this predicament. After seeing what's happened to their earnings, they'd have no choice but to be more careful to avoid a financial catastrophie.
What's going to be crucial is to see what MEXP does in order to secure their stake in their findings. They're going to need some good lawyers for sure. |