Spain Reclaimed Black Swan Treasure

In 2007, Florida-based treasure-hunting company Odyssey Marine Exploration recovered roughly 500,000 gold and silver coins, estimated at $500 million, from an Atlantic wreck it called the "Black Swan." Spain identified the site as Nuestra Senora de las Mercedes, a Spanish frigate that British warships sank off Portugal in 1804, and sued Odyssey for the entire haul. US courts ruled for Spain, and Odyssey transferred the coins and artifacts to Spanish authorities in February 2012. In September 2013, a federal judge also ordered Odyssey to pay Spain $1,072,979 in legal fees after finding that the company had litigated in bad faith.

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