Colombia Prepares for US$20B Battle Over San Jose Galleon
Colombia is approaching one of the most critical legal confrontations in its modern history, over the San Jose Galleon. At stake before the Permanent Court of Arbitration in The Hague is an estimated 30 trillion Colombian pesos, roughly $20 billion USD, alongside the country’s reputation for investor security and the ownership of invaluable pre-Columbian indigenous […]
Colombia finds itself in the midst of a crucial legal battle over the San Jose Galleon, with the potential value of the shipwreck estimated at $20 billion USD. The dispute is being heard before the Permanent Court of Arbitration in The Hague, with the country's reputation for investor security and the preservation of its rich pre-Columbian heritage hanging in the balance.
The arbitration case, initiated by American investment firm Sea Search Armada (SSA) in 2023, seeks to claim up to 50% of the legendary ship's cargo, which includes gold, silver, bronze, and priceless artifacts. The conflict between Colombia and SSA dates back to 1982, when SSA claimed to have discovered the galleon, but Colombia disputes this, stating that accurate coordinates were discovered in 2015.
The trial, initially anticipated to begin in late 2025, has been delayed due to the intricate legal complexities and the need to maintain strict confidentiality. Meanwhile, the Colombian Institute of Anthropology and History (ICANH) has successfully recovered artifacts from the seabed, including silver coins, porcelain items, and bronze cannons, all in compliance with the arbitral rules.
Written by urgent.news from Colombia One's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
