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Colombia Concedes Point On Spanish Galleon Salvage While Resisting Claim

SSA appeals for help from the U.S. government have not been fruitful.  Although some Members of Congress signed a petition supporting the Americans' claim, Congress never voted on the issue.  

Said SSA's attorney James DelSordo, "Although we are gratified at this recognition, my clients would like to finally end this interminable legal battle and get to the business of recovering a ship wreck that has sometimes been termed 'the holy grail' of lost treasures.  If successful, it would provide enormous resources for Colombia, hundreds of millions of dollars in taxes to the U.S. government, a final return for the investors in the project and an abundance of historical and archeological information."

Sea Search Armada is a commercial salvage company that has worked on numerous ship wrecks around the world and has a reputation for scrupulous archeological rescue.  It is a group of approximately 100 American investors who have spent more than $12 million on this project since the initial signing of an agreement with Colombia in 1979.  That agreement, the legality of which was subsequently confirmed by the Supreme Court of Colombia, gave SSA exclusive rights for the San Jose search and 50% of the findings of the shared property.

SOURCE Sea Search Armada (SSA)

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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