From The Telegraph:
The US Supreme Court has refused to grant a final appeal to a Florida company that discovered treasure on a sunken Spanish vessel but was then ordered to return the gold and silver to Spain.
The Court did not give a reason for refusing the request from salvage specialist Odyssey Marine Exploration, which recovered 17 tons of silver and gold from the wreck of the “Nuestra Senora de las Mercedes” five years ago.
The decision effectively confirmed a February 1 ruling by a federal court in Atlanta that the ship, which was sunk in 1804 near the Strait of Gibraltar during a battle with the British fleet, remained the property of Spain.
The ship was found in May 2007 at a depth of 1,700 feet in the Atlantic Ocean off the coast of Portugal. It was returning from Peru. The Court also refused an appeal from Peru, which had sought to prevent the treasure being returned to Spain.
Read old posts on the Black Swan case on CPAL.