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US court rejects salvage company's claim to sunken Spanish galleon off Colombian coast
WASHINGTON (AP) ' A federal court in Washington has dismissed a private salvage company's claim to half of a treasure potentially worth billions of dollars and believed to lie in the wreck of a Spanish galleon that sank 300 years ago off Colombia's coast.
The court ruling notes that the statute of limitations has expired on a breach-of-contract claim by the Seattle-based Sea Search Armada company and noted that "no specific money judgment exists to be enforced."
Sea Search Armada has been embroiled in a two-decade dispute with the Colombian government over who has rights to the estimated $4 billion to $17 billion in gold, silver and emeralds in the wreck of the San Jose.