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Spain: Odyssey is playing a game

Dismiss the Tampa marine explorer's complaint, court told.

By SCOTT BARANCIK, Times Staff Writer
Published September 21, 2007

Spain delivered what it hopes will be a knockout punch Wednesday night in its battle with Tampa-based Odyssey Marine Exploration over a 500,000-coin treasure.

In briefs filed in Tampa federal court, Spain said Odyssey's continued refusal to reveal details about an Atlantic Ocean shipwreck that the company salvaged this spring amounts to an illegal game of "hide and seek." Without basic information such as the location of the shipwreck, which is code-named Black Swan, and the identify of the coins and other artifacts recovered there, Spain said, it's impossible to determine whether the country has a valid claim on the booty. Spain urged U.S. District Court Judge Steven Merryday to dismiss Odyssey's complaint and to make the company hand over its 17-ton coin collection to the U.S. Marshal's office until the dispute is resolved.

In response Thursday, Odyssey spokeswoman Natja Igney said that "as custodian of the sites in question, we think it would be irresponsible to advertise the location ... publicly." Igney said Odyssey offered to provide details confidentially to Spain, but Spain said in its filings that Odyssey's secrecy demands were impractical.

Few new facts emerged in Spain's filings. But one set of documents - alleged copies of the export-license forms that Odyssey submitted to Gibraltar officials before flying its treasure to Tampa in April and May - contained some intriguing details.

The May license application said that Odyssey's cargo was discovered roughly 180 nautical miles west of Gibraltar and consisted of "encrusted clumps of silver coins in a corroded condition."

For purposes of the license, Odyssey estimated the value of the 500,000 coins at $2.5-million, or $5 apiece.

But a June 22 news release Odyssey issued jointly with Volvo Cars of North America as part of a promotion said the coins were worth about $500-million, or $1,000 apiece.

Odyssey's Igney said the company was not ready to comment on the apparent discrepancy because it was "still reviewing Spain's filings and the authenticity of its documentation."

Spain attorney Jim Goold said, "There's some difference in those numbers, isn't there?"

Scott Barancik can be reached at barancik@sptimes.com or (727) 893-8751.

[Last modified September 20, 2007, 23:06:19]