Saturday, December 11, 2010

Battle over $17 Billion 1708 Shipwreck off the Coast of Colombia Lands in U.S. Court

The Spanish galleon San Jose is believe to be one of the richest shipwrecks ever.

An American company claims Colombia owes it up to $17 billion for breach of a contract granting it the right to salvage the galleon San Jose, sunk by the British Navy on June 8, 1708. It is believed that the San Jose was carrying gold and silver coins and bullion owned by private merchants and worth billions today. . . .

Full story at:  LegalTimes

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