10 tons of gold, 70 tons of platinum, one a half tons of industrial diamonds and 16 million carats

[muriel_volestrangler]

of gem quality diamonds.

British shipwreck holds £2.6 billion treasure, explorers claim

In a project shrouded in secrecy, work is due to start on recovering the cargo, which was being transported to the United States to help pay for the Allied effort in the Second World War.

The scale of the treasure trove is likely to unleash a series of competing claims from interested parties. Salvage laws are notoriously complex and experts say there could be many years of legal wrangling ahead.

In order to protect its find until the cargo is brought to the surface, the company that located the wreck has not released the name of the vessel or its exact location, but has given the ship the code name "Blue Baron".

It says the merchant ship, which had a predominantly British crew, had left a European port, laden with goods for the US Treasury under the Lend-Lease scheme, whereby the American government gave material support to the Allied war effort in exchange for payments.

...

http://www.telegraph.co.uk/earth/environment/archeology/4330310/British-shipwreck-holds-2.6-billion-treasure-explorers-claim.html

[RUMMYisFROSTED]

1. I thought this was another CEO bonus thread.

[NV Whino]

3. !

:rofl:

[MineralMan]

2. My goodness! This is going to start a legal case

that will last for decades. Two governments and the finder of the wreck...all vying for the loot, which is a spectacular amount of money if the quantities of gold and platinum are correct.

[Burma Jones]

4. These are a few of my favorite things...........

[shraby]

5. If it's in open water..beyond the country's boundaries

in the ocean, the booty should belong to the finder, but with this much value at stake everyone will want a piece of the action. Since it was headed for the U.S. this country should have first dibs if anyone besides the finder has a valid claim.

[muriel_volestrangler]

6. It'd belong to the US government only if the US forgave the UK and Russian debts

And the way I read the story, it sounds as if it's the Russian and British governments who are likely to claim it, so I doubt the debt was forgiven (would you have forgiven it? Britain/Soviet Union say "the payment was on its way to you, but a sub sank it", and you reply "OK, we'll take that as if it's been delivered, and if it ever turns up, we'll claim it"? Sounds unlikely to me)

When you say "should belong", is that your personal opinion of how marine law ought to have been written, or are you saying the expert in salvage law quoted in the piece is wrong?

[shraby]

8. Governments have been fighting salvage crews

for a long time. Sometimes succesful, sometimes not. No countries own the area in open seas, so people find, governments confiscate.

[Ganja Ninja]

7. It's probably considered a war grave.

Disturbing it without the permission of the government (in this case likely either British or Russian) is a no no.

[Still Sensible]

9. I don't get it

we have a whole fleet of submarines. I'm sure it's not that simple, but why can't we have a sub or two follow these folks and find out what's down there? It seems to me based on the treasure they are claiming is there, and further claiming was destined for the US Treasury, would justify a little diversion of Navy resources. Just a thought.

[crimsonblue]

10. since it was a payment bound for the US

Britain has no claim to the loot. It is ours. Ours, I say!