It's the 16th century all over again. A salvage company recovered something like $500,000,000 in sunken treasure from a ship in international waters. Spain says that the treasure is theirs. They never admitted giving up on any ship that sank. Ever. By their reasoning, anything recovered is theirs. Thanks for finding it and bringing it up.
The treasure hunters haven't named the wreck or the site. They have given it the code name of the Black Swan.
Spain insists that the treasure hunters are nothing but pirates and has seized the treasure hunters' ships. I'm not sure that Spain is quite clear on how piracy works but usually the party who seizes someone's ship is the pirate.
More here.
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