Friday, January 14, 2011

Underwater salvage team VS. Columbian law

Its really interesting to see stakes of interest raise when your talking about a 18 billion dollar discovery. the Republic of Columbia was recently sued by a US based law firm for billions on a discovery of San Jose shipwreck over 300 years old. So for those of you not familiar basically Columbia allowed exploration in the 80's since then Columbia in 1984 changed their laws so that any treasures found off the shores of Columbia would be sole property of Columbia in exchange for a finders fee. So in nut shell one can only assume that once the discovery was evident, Columbia decided to change the rules and offer a finders fee of 5% versus the negotiated 50%, and the 5% would be subject to a 45% tax LOL. Well my opinion would be you find it you keep it, or don't ask for permission, but wait for the proper time to apologize haha simple right :). Well that's the problems that has been brewing for the last few decades.
On a serious not though I do think within a reasonable situation that it would be favorable to grant ownership within a certain distance...

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