The National Geographic reports that last Friday (29 June 2018) the U.K.’s National Museum and National Museums of Northern Ireland have filed papers with the bankruptcy court pledging to raise $19.2 million to buy Premier Exhibitions and the Titanic Exhibition. Both museums would co-own the artifacts and display them in Belfast. The non-Titanic part of Premier would be acquired by another exhibition firm called Running Subway. It is also reported that the CEO of Running Subway is on the Creditors Committee and that Premier’s creditors support the bid. A rival bid by existing shareholders is offering $17.5 million at the moment. Another proposal from the equity holders calls for splitting up the artifacts and selling them at auction.
The National Maritime Museum is pledging to conserve the artifacts and has the facilities to do it. They are worried that history would end up in private hands and possibly disappear. Famed explorer and one of the two men that can claim to have found RMS Titanic (the other was Jean-Louis Michel of Ifremer also aboard Knorr at the time), Bob Ballard, is a supporter. Certainly this adds a new complexity to the upcoming hearing on July 25 where the proposals will be considered by the court. If they can raise the money, they might be able to pull it off. Then again there are a lot of competing interests and lots of jockeying going on behind the scenes. Also the lawsuit against former officers could have an impact as well though hard to say at this point.
Another fascinating wrinkle in this story. Stay tuned, this is going to be interesting.
Source: Titanic Artifacts Caught in International Tug-of-War (National Geographic, 2 Jul 2018)