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Odyssey files objection in Black Swan case
by Tampa Bay Business Journal

Odyssey Marine Exploration filed its objection to a magistrate’s recommended dismissal of the “Black Swan” admiralty case.

In early June, a federal magistrate recommended granting Spain’s motion to dismiss the case.

Spain filed a claim after Odyssey Marine sought federal court protection of the shipwreck site and requested ownership of the site in the Atlantic Ocean.

Odyssey Marine (NASDAQ: OMEX), based in Tampa, recovered tons of gold and silver coins from the site, which is believed to be where the merchant ship Mercedes sank.

Odyssey Marine objected to the case dismissal, contending there is no vessel located at the site, the Mercedes was involved in commercial enterprise that nullifies the claim to sovereign immunity, and most of the ship’s coins were shipped as freight and thus were never owned by Spain.


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