Kevan Jones – 2016 Parliamentary Question to the Department for Transport

The below Parliamentary question was asked by Kevan Jones on 2016-05-26.

To ask the Secretary of State for Transport, what steps the Government has taken to recover funds it is owed by Odyssey Marine Exploration from the deduction of salvage expenses from the Government’s share of the silver recovered from SS Gairsoppa.

Mr Robert Goodwill

Odyssey Marine Exploration deducted 29,228,972 US Dollars as salvage expenses from the total value of silver bullion recovered from the SS Gairsoppa.

The question as to whether or not Odyssey Marine Exploration deducted excessive salvage expenses under the contract, which was awarded in January 2010, is disputed between the parties, and would accordingly need to be the subject of legal proceedings in the United Kingdom and possibly also in the United States of America to resolve. This issue is being kept under review.