The federal judge in a case pitting the Spanish government against a U.S. treasure-hunting firm wants the parties to agree on a way to protect the information Madrid is demanding from Odyssey Marine Exploration, spokespersons for both sides told Efe Monday.

Judge Mark A. Pizzo rejected the confidentiality guidelines proposed by Odyssey, according to attorney James Goold, who represents the Spanish government in the litigation over the $500 million treasure recovered by Odyssey last May.

Odyssey co-founder and president Greg Stemm told Efe in a statement that he and his colleagues were “satisfied with the concern shown by Magistrate Pizzo regarding the protection and security of the sites” where the firm found the loot.

He said he was also happy that the judge urged Spain and Odyssey to “work together to draft a confidentiality accord acceptable to both parties.”

The next public hearing in the case is set for Jan. 10 at a federal court in Tampa, Florida, where Odyssey is based.

Madrid contends the company plundered Spanish cultural assets when it recovered - in international waters - more than $500 million in gold and silver coins and other valuables from a colonial-era shipwreck code-named Black Swan.

Odyssey told the judge the objects found aboard the wreck indicate it may date from the 19th century, after the heyday of Imperial Spain.

The firm also said it remains prepared to share with Spanish authorities its Preliminary Site Assessment of the wreck, provided Madrid agrees to honor certain guarantees.

The Spanish government has said in previous court filings that Odyssey has failed to describe the Black Swan operation in “reasonable detail,” making it difficult to determine the provenance of the treasure.

Odyssey said that if Spain agrees to protect “confidential information,” the firm will allow Madrid-designated experts to “examine the objects recovered.” Read Full Story