Colombia's quest for a multi-billion-dollar sunken treasure amid legal dispute

Colombia faces a legal quagmire in its quest to recover the Spanish galleon San José, a sunken treasure valued at up to $20 billion. President Gustavo Petro aims to expedite the retrieval before his term ends in 2026, calling for a public-private partnership. The heart of the issue lies in determining the legitimate discoverer of the treasure. Glocca Morra (now Sea Search Armada) claims they found it in 1981, offering the coordinates to Colombia, while the government asserts it discovered the wreck in 2015, sparking a $10 billion legal battle.

from News-Economic Times https://ift.tt/KdN67UP