Sunken 1905 Russian Warship found
- Thread starter Ryano
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When I am talking to a new investor for my privately funded project I explain to them the difference between privately funded and stock market funded projects. It is just sad that these people like the Shinil group keep trying to scam investors. Gives the whole industry a bad name. Also pisses me off that Odyssey didn't take all the coins from the Merchant Royal(sp?) and dump them back in the ocean where they found them. I even wrote a letter to Melinda Carlisle and Greg telling them to do that. Savy investors hear about these things and want to know what the deal is.
xaos
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ummm...
Perhaps before you say too much to this "new investor" you get a few details straight.
Odyssey was found guilty of Contempt of Court and fined for the MERCEDES. (not the Merchant Royal, no coins were recovered from the MR)
Melinda MACCONNEL, Odysseys General Counsel, was admonished by the Court for her complacency in Contempt and un-necessarily prolonging and complicating the Court proceedings.
I am not certain a 'savvy investor' would be keen on your statement that they should have dumped the Merchant Royal coins, back in the ocean. A quick internet search would show a bunch of holes in your story. Found this as the first document on a Google search https://legaltimes.typepad.com/files/odyssey.pdf
A 'savvy investor' wants to spent the money to recover the wreck AND KEEP it to monetize the investment.
Perhaps you should point to the mistakes that Odyssey made that lead to the outcome, and explain why your process and recovery efforts are not illegal, would not have to been subject to legal action, and the ownership issues resolved prior to recovery, therefore no need to send back the recovery to the owners.
Just my thoughts, but when you claim you advised Odyssey to dump the recovery back in the ocean, and thats what you would have done, is that really what an investor wants to hear?
PS I am a big fan of the Go-Go's, but never heard of the group doing a recovery on the merchant Royal.
Perhaps before you say too much to this "new investor" you get a few details straight.
Odyssey was found guilty of Contempt of Court and fined for the MERCEDES. (not the Merchant Royal, no coins were recovered from the MR)
Melinda MACCONNEL, Odysseys General Counsel, was admonished by the Court for her complacency in Contempt and un-necessarily prolonging and complicating the Court proceedings.
I am not certain a 'savvy investor' would be keen on your statement that they should have dumped the Merchant Royal coins, back in the ocean. A quick internet search would show a bunch of holes in your story. Found this as the first document on a Google search https://legaltimes.typepad.com/files/odyssey.pdf
A 'savvy investor' wants to spent the money to recover the wreck AND KEEP it to monetize the investment.
Perhaps you should point to the mistakes that Odyssey made that lead to the outcome, and explain why your process and recovery efforts are not illegal, would not have to been subject to legal action, and the ownership issues resolved prior to recovery, therefore no need to send back the recovery to the owners.
Just my thoughts, but when you claim you advised Odyssey to dump the recovery back in the ocean, and thats what you would have done, is that really what an investor wants to hear?
PS I am a big fan of the Go-Go's, but never heard of the group doing a recovery on the merchant Royal.
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My mistake. I wrote the reply rather quickly. It was the Mercedes I was referring to. Also the name should have been Melinda MacConnel. What do you think would have happened if Odyssey would have just dumped all the coins back in the ocean on the general site of where they recovered them as soon as they realized the court was going to order them returned. Do you think that Odyssey did us or any investors any favors by not dumping the coins back in the ocean? What is wrong with being pro active rather than waiting for Spain to trample you to death.
xaos
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Being proactive is not getting ones self into the situation in the first place, hence my comments.
Being caught, and then dumping the recovery?
Rob a bank and then give the money back? Guilty is still guilty.
Spain would have had legal recourse to charge Odyssey to recover their property Odyssey had dumped.
Face it, Odyssey did ask for permission and was denied.
They went on in secret, and did the recovery. Odyssey then denied the recovery saying they could not identify the wreck, yet the images they provided showed very distinctive cannon.
We typically identify wreck by cannon, yet Odyssey, the alleged premier underwater experts, denied the opinion of experts Spain hired to id the wreck. (Delgado and Mearns
?)
Odyssey did no one in this business any favors, and has created a stigma, and case law against us.
The UK has stopped the Commodity Wreck program, because of Odyssey.
Spain categorically denied salvage of it wrecks worldwide, because of odyssey (so did others)
There is now case law, and further adjudication details, favoring Sovereign entities in the US Courts, because of Odyssey.
Media splashes and all of the other news, such as the Mercedes. Victory, and the Cyprus recovery, which show treasure hunters in a bad light.
Governments around the World have reinforced laws on recovery, and restricted private recoveries, due to Odysseys blatant disregard for the law, UNESCO provisions, and well, simple concepts in the basics of archaeological recovery.
Odyssey brought to the forefront all of the bad things about recovery, and that was for $$$ only.
That is why I am adamant about chastising them, as it affects what we/I do, and places undue restrictions and costs on us.
Face it, odyssey was never in this business to do things right, and they never have. Since being publically trade, they made sure to blast their adventures in the media worldwide to increase the shareprice, to the detriment of this business.
We operated for decades without this exposure. Now we are fkd because of Odyssey.
My opinion, hell yea! Not only mine, oh hell yea.
Should anyone in this business even reference Odyssey in anything but what NOT to do, it is NOT a good thing.
Tell me, where is Odyssey now in shipwreck recovery?
They screwed me, us, and the business, and then moved on.
Being caught, and then dumping the recovery?
Rob a bank and then give the money back? Guilty is still guilty.
Spain would have had legal recourse to charge Odyssey to recover their property Odyssey had dumped.
Face it, Odyssey did ask for permission and was denied.
They went on in secret, and did the recovery. Odyssey then denied the recovery saying they could not identify the wreck, yet the images they provided showed very distinctive cannon.
We typically identify wreck by cannon, yet Odyssey, the alleged premier underwater experts, denied the opinion of experts Spain hired to id the wreck. (Delgado and Mearns
?)Odyssey did no one in this business any favors, and has created a stigma, and case law against us.
The UK has stopped the Commodity Wreck program, because of Odyssey.
Spain categorically denied salvage of it wrecks worldwide, because of odyssey (so did others)
There is now case law, and further adjudication details, favoring Sovereign entities in the US Courts, because of Odyssey.
Media splashes and all of the other news, such as the Mercedes. Victory, and the Cyprus recovery, which show treasure hunters in a bad light.
Governments around the World have reinforced laws on recovery, and restricted private recoveries, due to Odysseys blatant disregard for the law, UNESCO provisions, and well, simple concepts in the basics of archaeological recovery.
Odyssey brought to the forefront all of the bad things about recovery, and that was for $$$ only.
That is why I am adamant about chastising them, as it affects what we/I do, and places undue restrictions and costs on us.
Face it, odyssey was never in this business to do things right, and they never have. Since being publically trade, they made sure to blast their adventures in the media worldwide to increase the shareprice, to the detriment of this business.
We operated for decades without this exposure. Now we are fkd because of Odyssey.
My opinion, hell yea! Not only mine, oh hell yea.
Should anyone in this business even reference Odyssey in anything but what NOT to do, it is NOT a good thing.
Tell me, where is Odyssey now in shipwreck recovery?
They screwed me, us, and the business, and then moved on.
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