ST. AUGUSTINE, FLA. (CN) - The Blue Hole Expedition claims it invested $6.75 million with treasure-hunters who said they would use it to recover the cargo from a shipwreck during the summer of 2007. But Northern Oceanic Research & Technology Holdings never got its boat out of drydock last year and demands $2 million more to start the search, and now a third party is onto the shipwreck and may get it, Blue Hole says.
Blue Hole sued Northern Oceanic and Eugene Lyon, trustee of the North-BHE Trust, in St. Johns County Court. As is customary in such cases, the complaint contains little if any information about the shipwreck.
Plaintiffs are represented by Richard Rumrell of Jacksonville.
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