News

Aug 13, 2010 2:28 PM by Greg Boyce

Salvage company wins Titanic battle

RICHMOND, Va. (AP) - A federal judge in Virginia has ruled that a company is entitled to the value of about 5,900 artifacts it salvaged during six expeditions to the Titanic.

U.S. District Judge Rebecca Beach Smith in Norfolk granted a salvage award to RMS Titanic Inc. late Thursday. However, the judge postponed until next year a decision on whether to simply give the company title to the artifacts or sell them and turn the proceeds over to RMS, a subsidiary of Premier Exhibitions Inc. of Atlanta. The items are worth an estimated $110 million.

Until then, RMS can retain possession of the artifacts, which are being displayed in exhibitions around the world. The Titanic sank in the North Atlantic off Newfoundland in April 1912, killing more than 1,500 of the 2,228 people onboard.

»Comments

»Topics in this article

More News

Weather - Forecast
Story Photo

3 hours ago

Water Spigot Closing

The water spigot that has been turned on for parts of southern Colorado over the weekend will begin to shut for the...

Most Popular

Top Videos

1 2 3 4