SALVAGING A 'MULTI MILLION' INDUSTRY

18 Nov 2011 8:45 AM | Anonymous

SALVAGING A 'MULTI MILLION' INDUSTRY
 
Published On:Thursday, November 17, 2011

By NEIL HARTNELL

Tribune Business Editor

A LEADING Bahamian law firm yesterday told Tribune Business that an wreck salvaging industry worth potentially "hundreds of millions of dollars" might have been unleashed by law changes passed this week, disclosing that it had been contacted by "three-four major salvage groups" already.

The Bahamian law firm, well-known to Tribune Business but requesting anonymity because it wanted to protect clients still in the infancy of their exploration discussions, said amendments to the Antiquities, Monuments and Museums Bill passed by the House of Assembly had paved the way for a sector that could create numerous tourism and cultural spin-offs.

http://www.tribune242.com/sports/11172011_Treasure_business_Page1-Lead

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