A PENSIONER has vowed to prove “I own the Titanic” by locking horns with an American company in a bitter legal battle.

RMS Titanic Inc wants to be recognised as the sole rights-holder to the wreck of the ill-fated liner – but standing in their way is 73-year-old Douglas Woolley.

Self-confessed Titanic fanatic Mr Woolley has launched a legal challenge against RMS Titanic Inc, claiming he is the only rights-holder to the wreck of the ship, which sank on its maiden voyage in 1912, killing more than 1,500 passengers and crew.

The retired caterer says he registered a claim for ownership of the ship in 1981, which has gone undisputed in the UK since.

He said the American company’s bid is invalid and that American courts do not have any power over a British-made ship in international waters.

“Some people think I’m mad but the Americans can’t stop me doing anything if I want to as they have no power over the Atlantic,” he said.

“I own the Titanic and I have the rights.”

The company which originally owned the ship, the White Star Line, no longer exists, while the last survivor of the disaster, Millvina Dean, died at her New Forest nursing home in June, aged 97.

Southampton-based Titanic historian Brian Ticehurst rubbished Mr Woolley’s claims, describing him as a “dreamer”.

He said: “I have known Mr Woolley for over 20 years and he is a lovely man but he is a dreamer who loves the publicity these stories bring him.

“Does he own the Titanic? Possibly, but no one has ever bothered to dispute his claim anywhere because it is just not worth disputing. He is a dreamer who is best left alone to dream.”

Mr Woolley set up the Seawise Salvors International company in 1966 in a bid to fulfil his dream of raising the Titanic from the north Atlantic seabed.

He says he invented a way to raise the liner when he was just 12 years old.

He also claims to own the RMS Queen Elizabeth, which sunk following a fire in Hong Kong harbour in 1972.

Mr Woolley, who lives above a shop in Goodmayes, East London, added: “Ever since I was a child I have been fascinated by the Titanic. I've always wanted to launch an expedition there.

A project like this will of course be difficult, but I am determined.”

Mr Woolley said he hopes to lead a trip to recover pieces of the wreck and bring them back to Britain next year.

He says an expedition is being planned for next year funded by a television production company which wants to make a documentary about his scheme, although he said a confidentiality clause prevents him from releasing further details.

A US federal judge is expected to make a decision over whether to approve RMS Titanic Inc’s claim in January 2010.