Firm Loses Claim to $17B Shipwreck Dating to 1708

27 Oct 2011 12:28 PM | Anonymous

Firm Loses Claim to $17B Shipwreck Dating to 1708
     (CN) - Sea Search Armada missed the statute of limitations to sue the Republic of Colombia for reneging on rights to salvage up to $14 billion worth of booty from 300-year-old shipwreck, a federal judge ruled.
     The British Navy sank the San Jose galleon in 1708, and the wreck rests 1,000 feet deep on the edge of the continental shelf.
     "The complaint in this case reads like the marriage between a Patrick O'Brian glorious age-of-sail novel and a John Buchan potboiler of international intrigue," U.S. District Judge James Boasberg wrote Monday.

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