Judge rules against explorers in treasure dispute

A federal judge has ruled against a deep-sea exploration company in a dispute with Spain over 17 tons of silver coins recovered from a sunken 19th century Spanish galleon.

Florida-based Odyssey Marine Exploration Inc., which found the treasure off the Portuguese coast in 2007, had requested a stay after a federal court in Atlanta ruled last year the explorers must give the treasure back to the Spanish government.

In an order Tuesday, a U.S. circuit court judge denied the company's motion for a stay.

In court documents, the exploration firm said it wanted to stay the proceedings until the U.S. Supreme Court could consider the case.

Odyssey had said in court filings that such a denial might mean Spain will keep the treasure forever. Spain's position is that it is not subject to the jurisdiction of the U.S. courts, Odyssey said.