Treasure Hunters Hoping to Salvage $3-$5 Billion from WWII Wreckage

A Portland-based shipwreck hunter has found what he believes
to be a ship torpedoed during World War II by a German U-boat off Cape Cod in Massachusetts. Greg Brooks and his partners filed a claim on the wreck in the US District Court in Portland, Maine, saying that he and his crew intend to  begin the salvage within a few weeks.<br><br> In the court documents, the ship is identified at the Port Nicholson, a British merchant ship sunk in 1942. When it sank, it was thought to be carrying only auto parts and military supplies. Although Brooks used only recovered auto parts to secure salvage rights, he believes that this wreckage was secretly carrying much more. He has stated that, &#8220;It was a top-secret mission and they were transporting valuable cargos during World War II. We&#8217;ve got a lot of information that led us to say &#8216;Let&#8217;s go get this&#8217;&#8221;.<br><br>Treating this operation as though it is a top-secret mission of his own, he  has admittedly changed his story regarding the wreckage several times. In January,
he told London&#8217;s Daily Telegraph that the British wreck was off the coast of Guyana, and denied that it was the Port Nicholson. He says that the secrecy has been all about trying to prevent other treasure hunters from finding what he believes will be &#8220;the biggest stimulus package Maine has ever seen&#8221;(Portland  Press Herald), assuring that, &#8220;I&#8217;m going to make sure that no kid in Maine goes hungry again.&#8221;<br><br>Brooks believes that the wreck of the Port Nicholson contains 71 tons of platinum ingots, a payment received from the Soviet Union for military supplies; more than a ton of industrial diamonds on their way to a military plant in Australia; and perhaps even gold from Africa on its way to New York, based on the ports the ship visited before it was torpedoed. Even if the treasure is really there, Brooks and his crew will face an enormous challenge holding onto the salvaged  goods. <br><br>While a federal judge in Portland, Maine originally issued an order protecting Brooks&#8217; salvage rights last August, he has since turned down further requests to keep anyone else from claiming any treasure found, depending on what is recovered.  So far, no other parties have filed any claims on the wreckage. However, once a report surfaced of Brooks&#8217; projected findings, the Russian Embassy sent him an email. Brooks remains optimistic, however. &#8220;Legally, we&#8217;re in a good position,&#8221; he says. &#8220;It&#8217;s been untouched since it went down&#8230;Nobody looked at this thing since it happened.&#8221; Because the wreck is in international waters, the Soviet Union no longer exists, the United States has been paid off for its war debts the cargo was uninsured and  the ship&#8217;s owner has gone out of business, Brooks and his crew&#8212;the Sea Hunters&#8212;should be entitled to at least 90 percent of any treasure that is recovered.<br><br>
Nicholas Walsh, a Portland maritime lawyer, warns that &#8220;It&#8217;s not finders, keepers. There&#8217;s always an intervenor anytime there&#8217;s this kind of money involved.&#8221; Salvage law is complicated, and claims can be
made my governments, insurers, and owners. When ships are wrecked during war, they are given a special classification and are never legally abandoned. It  is only after Sea Hunters, LP have salvaged their treasure and brought it before the court that any decision can be made about what belongs to whom. In most
cases, however, it is not unlikely for the payment to a salvage team to be 90%  of the found treasure. <br><br>Right now, Brooks is spending time in Louisiana readying his new vessel, called the Sea Hunter, for the recovery operation. Investors have put up $5 million so far, and $3.5 million has already been spent on preparing for the effort. Within a few weeks, the ship will be brought to Maine, perhaps working out of Bath harbor to save money. The crew, mostly from southern Maine, plan to use remote-controlled underwater vehicles and grappling equipment to open the cargo holds and bring up the long-lost items. Brooks claims to know exactly which cargo hold the <a href="http://www.jamesallen.com" title="platinum and diamonds">platinum and diamonds</a> are in, and how the ship rests on the ocean floor, more than 600 feet below the surface. The whole salvage operation could take as little as two weeks, if the weather is good.<br><br>The judge in Portland expects an update on the status of the salvage work by  July 31st. If Brooks and his team are successful, this will be the world&#8217;s   largest recovered sunken treasure.

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