The company that holds thousands of artifacts from the Titanic
luxury liner returned to federal court in Norfolk on Monday seeking
sole title to the property and an end to more than 15 years of legal
wrangling over the treasure. After the Titanic's discovery and subsequently the first expedition to
retrieve the artifacts in 1987, ownership of the property has been a
legal and corporate challenge. Lawyers for the company said they will present about 15 expert
witnesses, including appraisal experts who estimated the worth of the
artifacts. The $110 million figure, the appraisers said in a court
filing, is not to be taken literally.
U.S. District Judge Rebecca Beach Smith opened a hearing that will determine the fate of the artifacts lifted from the depths of the North Atlantic. Premier Exhibitions Inc., the parent company of RMS Titanic Inc., has asked the court to award it sole title to the artifacts with covenants to preserve them forever, or alternatively, a cash award of the estimated value of the pieces. The company also notified the court that it has begun initial planning for another expedition to the site, tentatively scheduled for 2010.
Excerpted from hamptonroads.com.
Leave a comment