Odyssey Marine Exploration Inc. (OMEX), pursuant to an agreement reached with the UK Government, has filed a motion to dismiss and vacate the warrant for the arrest which was filed in the U.S. District Court on Admiral Balchin's HMS Victory, a 100 gun ship of the line lost in 1744 in the English Channel.
The UK Government has agreed to pay Odyssey a salvage award of 80% as compensation for the artifacts which have been recovered from the site and submitted to the UK Receiver of Wreck. A valuation of about $200,000 has been agreed for the two cannon recovered from the site, providing for a salvage award of about $160,000.
The company said that it will also be participating in the ongoing process of consultation to determine the approaches that should be adopted towards the wreck.
In 2008, in cooperation with the UK Ministry of Defence (MOD), Odyssey conducted an extensive archaeological pre-disturbance survey and recovered a 42 pdr and 12 pdr bronze cannon from the site.
HMS Victory was lost in 1744 under the command of Admiral Sir John Balchin. The direct predecessor and inspiration behind Nelson's flagship, Balchin's Victory was the mightiest and most technically advanced vessel of her age. She was lost during a storm with all hands and was the last Royal Navy warship to be lost at sea with a complete complement of bronze cannon. Two of the greatest admirals in English history, Sir John Norris and Sir John Balchin called her their flagship.
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