By Jaded Consumer:
A few of you may recall this article, from August of 2008, explaining why “August is the time to buy Odyssey Marine Exploration” (OMEX). First, a few words on what’s right with the article. Oddyssey Marine “arrested” some wrecks — true enough. This means that some token from the vessel (or ostensibly so) was presented to a court of admiralty in connection with a claim on the vessel – a claim in rem against the vessel itself, rather than a claim against its owner. An “arrest” doesn’t prove either that the vessels at issue are the property of OMEX, or that OMEX even has properly identified the wrecks; it simply brings the supposed wrecks within the jurisdiction of an admiralty court. This means that the fight over the wreck sites can begin.
A Little History On Historic Wrecks
Let’s think back to the famous wreck Atocha, found by Mel Fisher