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RMS Titanic updates—bankruptcy, a new exhibit, and a letter sold at auction for a record price

RMS Titanic, 1912

In 1912, the RMS Titanic struck an iceberg and sank on its Maiden Voyage from England, resulting in the death of more than 1,500 of its 2,224 passengers. The sunken ship laid undisturbed on the ocean floor until 1985, when it was located by divers from a Franco-American expedition. Numerous artifacts have since been recovered from the Titanic, many by the firm RMS Titanic Inc., a subsidiary of Premier Exhibitions Inc., which sponsors exhibits around the world and a permanent display in Las Vegas, Nevada.

In 2001, UNESCO adopted the Convention for the Protection of Underwater Heritage, which covers all sites containing evidence of human existence that have been under water for more than 100 years. The Convention went into effect in 2009 after a sufficient number of state parties became signatories to it. The Convention is particularly important for sites such as the sunken Titanic that lie in international waters. More so now that Premier Exhibitions Inc. has declared bankruptcy and is auctioning thousands of artifacts in its possession, leading some to fear the underwater site may be looted, given its remote location is difficult to guard or monitor. (Photo of the RMS Titanic in 1912 is in the public domain.)

Below are updates on the original IHN Network post, including the bankruptcy case, a new exhibition, and a letter from a Titanic passenger that recently sold for a record price at auction in England.

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RMS Titanic—salvaging rights may be up for grabs as company declares bankruptcy

By International Heritage News Network

July 10, 2017

Update on bankruptcy proceedings of RMS Titanic, Inc.

On September 19, 2017, a US Bankruptcy Court entered a final default judgement in a case filed by RMS Titanic, Inc. against the French Republic. The court ruled in favor of RMS Titanic, Inc.


Premier Exhibitions, Inc. (OTCMKTS:PRXIQ) Files An 8-K Other Events

By ME Staff 8-K, Market Exclusive, October 4, 2017

Update on auction of salvage rights

Premier Exhibitions, which owns RMS Titanic, Inc., extended the deadline for bids for the artifacts and other assets held by the company that were recovered from the Titanic.


Premier Exhibitions Extends Deadline for Selection of Stalking Horse Bidder In Auction of Titanic Artifacts and Other Valuable Assets

Globe Newswire, September 26, 2017

New Titanic Exhibit Opens in Spokane

Artifacts recovered from the RMS Titanic are the centerpiece of a new exhibit at the Northwest Museum of Art & Culture in Spokane, Washington. The exhibit will be open to the public through May 20, 2018.


Titanic artifact exhibition steams into the MAC

By Tyler Wilson, The Spokesman-Review, October 18, 2017

Record auction sale of Titanic letter

His wife survived; he did not. A letter written by Alexander Holverson while aboard the Titanic was recovered along with his body. The letter, written to his mother, is haunting in its total lack of awareness of the disaster that was soon to occur.


Titanic Letter Sells for Record Price at Auction in England

By Susanne Fowler, The New York Times, October 22, 2017

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