Sunk Treasure Ship and the $495 Million Question

In 2007 the Spanish treasure ship was re-discovered by Odyssey Marine Exploration. The Spanish government argues that the galleon "Mercedes" belongs to Spanish government and was sunk by a British warship in 1804. Meaning, the lost treasure of $495 million belongs to the Spanish government under sovereign immunity rules. Odyssey argues that the treasure ship was a commercial vessel and falls under the Salvage Law and the Law of the Sea Convention, allowing for them to keep the treasure. Add in a claim by the descendants of the crew of the Mercedes and the Peruvian government, this is a legal nightmare that won't be coming to end anytime soon...