JUDGE RULES OF TITANIC ARTIFACTS

THE COMPANY WITH EXCLUSIVE RIGHTS TO SALVAGE THE TITANIC IS ENTITLED TO FULL COMPENSATION FOR THE ARTIFACTS WORTH ABOUT $110 MILLION THAT IT HAS RECOVERED IN A HALF-DOZEN PERILOUS EXPEDITIONS TO THE FAMOUS SHIPWRECK, A FEDERAL JUDGE HAS RULED. HOWEVER, US DISTRICT JUDGE REBECCA BEACH SMITH'S RULING LATE THURSDAY DID NOT DETERMINE HOW RMS TITANIC INC WILL BE PAID. SHE SAID SHE COULD TAKE UP TO A YEARS TO DECIDE WHETHER TO GIVE RMS TITANIC TITLE TO TEH APPROXIMATELY 5,900 ARTIFACTS OR SELL THEM AND TURN THE PROCEEDS OVER TO THE COMPANY. MEANWHILE, RMS TITANIC WILL RETAIN POSSESSION OF THE ITEMS, WHICH ITS ATLANTA-BASED PARENT COMPANY PREMIER EXHIBITIONS INC HAS BEEN DISPLAYING IN EXHIBITIONS AROUND THE WORLD. THE ARTIFACTS INCLUDE PIECES OF CHINA, SHIP FITTINGS AND PERSONAL BELONGINGS. THE TITANIC SANK ON ITS MAIDEN VOYAGE ON 12.APRIL.1912, KILLING MORE THAN 1,500 OF THE 2,228 PASSENGERS AND CREW. AN INTERNATIONAL TEAM LED BY OCEANOGRAPHER ROBERT BALLARD LOCATED THE WRECKAGE IN 1985. COURTS LATER DECLARED RMS TITANIC SAVOR-IN-POSSESSION, MEANING IT HAD EXCLUSIVE RIGHTS TO SALVAGE THE WRECKAGE, BUT EXPLICITLY STATED IT DOES NOT OWN THE ARTIFACTS OR THE WRECK ITSELF. IN HER RULING, SMITH PRAISE RMS TITANIC FOR TAKING SUBSTANTIAL FINANCIAL AND PHYSICAL RISKS AND FOR GOING TO GREAT LENGTHS TO PRESERVE THE FRAGILE ARTIFACTS. SHE SAID THE COMPANY HAS DEVOTED MORE THAN 500,000 HOURS OF LABOR TO SALVAGING, CONSERVING AND EXHIBITING THE ARTIFACTS. THE RULING CAME A LITTLE OVER A WEEK BEFORE A NEW EXPEDITION TO THE TITANIC BY RMS. DEPARTING 22.AUGUST AND SCHEDULED TO LAST ABOUT A MONTH, THE EXPEDITION WILL FOCUS ON A SCIENTIFIC STUDY OF HOW RAPIDLY THE TITANIC IS DETERIORATING, AND WILL BE THE FIRST THAT WILL NOT TAKE ANY ARTIFACTS.