Hedge Fund Tycoon Loses Ruling Over $40 Million WWII Shipwreck Treasure

Legal Battle Over Sunken Treasure:

• A hedge fund manager lost a legal fight over the salvage of $40 million worth of silver from a ship sunk in World War II.
• The UK Supreme Court ruled that South Africa, the silver's owner, did not need to be involved due to state immunity.

Treasure Salvage Dispute:

• Marshall's Argentum Exploration Ltd. found and lifted the cargo of silver hidden in the Indian Ocean.
• The firm claimed a substantial salvage figure but the court dismissed the claim.

Historic Shipwreck Discovery:

• The SS Tilawa, sunk by a Japanese submarine in 1942, was carrying the treasure destined for the South African Mint.
• The sinking has been compared to "India's Titanic" due to the scale of the tragedy.

Role of Hedge Fund Manager:

• Marshall, a top hedge fund manager, has been involved in deep-sea treasure hunting alongside a younger executive.
• They have utilized advanced underwater technology for wreck salvages.

Legal Implications and Future Actions:

• The ruling indicates that salvaged cargo intended for a state can be recovered by that government.
• Individuals seeking to recover valuable lost cargo must identify the original owner and make contractual agreements before attempting salvage.