Odyssey Marine Exploration Provides Comments on Motion to Recover Fees in "Black Swan" Case

17 Apr 2012 5:24 PM | Anonymous

Odyssey Marine Exploration Provides Comments on Motion to Recover Fees in "Black Swan" Case

Tampa, FL – April 16, 2012 -Odyssey Marine Exploration, Inc. (NasdaqCM: OMEX), pioneers in the field of deep-ocean shipwreck exploration, today called Spain’s motion for costs in the “Black Swan” case inflammatory and without legal merit.

Fees are not typically awarded in admiralty claims. Under Local Admiralty Rule 7.03-(g), which Magistrate Judge Mark Pizzo referenced in his February 17, 2012 Order in the case, to qualify for an award of attorney’s fees, Spain must have requested fees at the same time it filed the claim and moved to have the arrest vacated. No such request was made. In its Motion, Spain attempts to circumvent the requirement of the Local Rule that requires a hearing on the issue of the admiralty arrest, and only “thereafter” may fees be awarded. Spain never requested a hearing and no hearing was ever conducted in the “Black Swan” case. Spain implies that the Court’s decision not to conduct a hearing does away with the requirement insofar as attorney’s fees are concerned, but Spain proved no support for this position.

http://shipwreck.net/pr243.php

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