We do not hold the recovered [treasure] is ultimately Spanish property. Rather we merely hold the sovereign immunity owed the shipwreck of the Mercedes also applies to any cargo the Mercedes was carrying when it sank.
September 2011 11th Circuit Court of Appeals
Spain vs Odyssey Marine Exploration
BTW, how many wrecks has SFRX obtained legal right to title to?
Just one, which is more than the trinkets they’ve found.