The bankruptcy proceedings of Premier Exhibitions have been lumbering on for a while with not much to report on. But on 17 August a major decision was made. Premier decided to put up for sale a certain set of artifacts known collectively as the French Artifacts. These artifacts were brought up as part of a joint project but were excluded from the salvage award currently in place as they were property of the French government.
Premier filed to put these up for sale. Papers were served on French Embassy notifying them of the claim and their right to challenge it in court. Well they did not do so. As a result a default judgment has been entered against them with a finding that France had no interest in the French Artifacts. After some formal paperwork is done, the next step will be to come up with a satisfactory method of auctioning them off so that debts can be retired and creditors paid.
The artifacts covered under the current salvage award are unaffected by this decision.