4ni Home Northern Ireland Weather Forecast

Temp: 1°C

Sliding Robes NI
BFI Bathrooms for Ireland
Steppingstone Timber Products
Island Limousine Hire
CHOICE FLOORING Tiles & Bathrooms
Quarrystore
The Cotton Print Factory Shop Ltd.
Paschal J O
Alloy Wheels
Geoghegan Conservatory Conversions NI
Bridge Van Ltd

Northern Ireland News

4NI National News
06 July 2012

Fermanagh Woman In Caribbean Oil Legal Battle

A Northern Irish woman has gone to court in the Caribbean to get her share of oil money from a company she helped found.

Sheila McCaffrey from Kinawley, County Fermanagh, said she has been in "living hell" since a company she directed struck oil and struck her off.

She has not had a penny of profit from International Natural Energy, which found oil reserves off the coast of Belize, Central America, in 2006.

McCaffrey has now gone to the Eastern Caribbean Supreme Court seeking an order to force the company to buy her shares.

Another former director, Tony Quinn, stands to earn $23m from the company but this has been blocked until McCaffrey’s case is dealt with.

McCaffrey alleges the company is being mismanaged, with money being diverted to Quinn and fellow Irish founder Susan Morrice.

But the two deny her claims, saying she was removed because she had become impossible to work with and was unsuited to running the business as it grew.


McCaffrey and Morrice met through one of Bill Clinton's drives to promote investment in Northern Ireland. They joined with Paul Marriott, an English drilling contractor, and more than 300 people each invested at least €40,000 in the venture.

It had a lucky rare find of oil in Belize but INE has been embroiled in legal battles.

Last year Marriott sued the company and reached a settlement, and another director, Jean Cornec, is bringing a case next year over €11.7m he believes he is owed for shares.

But McCaffrey has received nothing for her shareholding and struggled for years to get her case into court.

She said her evidence to court was just "a snapshot of the living hell" she went through over the past five years.

Judgment is expected by September.

(NE)
Bookmark and Share
Submit a news item
News Archive
News Archive For Jul 2012
northern ireland news
news headline£17m Investment For Superfast Broadband
news headlineTwo Die In Home Accidents Each Week
news headlineSchools Close Following Snowy Conditions
news headlineBelfast Could Host Women's RWC Final
news headlineNew Government Departments Unveiled
news headlinePower Restored To Homes In County Antrim
news headlineMan Dies In Co Down Collision
news headlineTwo People Assaulted In Belfast
news headlineSnow Causes Chaos Throughout NI
news headlineCivil Service Redundancy Scheme Opens
News headlineOther News In Brief
United Kingdom News
News headlinePolice Searching For Missing Teen Find Body Parts
News headlineCCTV Footage Released Over Alan Cartwright's Murder
News headlinePM To Announce New Measures On Child Sexual Expolitation
News headlineFootballer Released On Bail Over Underage Sex Claims
News headlineTwo Charged Over Sexual Attack
News headlineNew Coinage Portrait Of Her Majesty The Queen Unveiled
News headlineSearch For Rebecca Watts Intensifies
News headlinePoliticians Called To Protect Children's Health
News headlineMan To Appear In Court Charged With Rape In Milton Keynes
News headlinePolice Search For Pregnant Teenager
News HeadlineOther News In Brief
northern ireland news northern ireland business news
Subscribe to news feed
download the 4ni app
Fleet Financial (NI) Ltd
Photoshop Training Northern Ireland
Total Home Improvements
Speedy Registrations Co Ltd
Gilbert-Ash Conservatories
CIP Insurance Brokers
ACE Distribution
Campbell Honda
DB Tiles & Bathrooms
Geoghegan Conservatory Conversions NI
Best Kiln Dried Logs

NEWS ARCHIVE Northern Ireland News CUSTOMER LOGIN WEBMASTER RESOURCES WHATS NEW ADVERTISING OPPORTUNITIES
Flagshp Media Group Ltd,
Unit C3, 6 Westbank Drive, Belfast,
BT3 9LA, Northern Ireland
Tel : (028) 90319008
Contact : Click Here
Directory terms
VER= yyz00000007 x yyz000000w10  0 Time=0.015625, DT=03/03/2015 15:01:11, 2594, 35618, 38212, J9014, 54.227.215.139,
ActAdSet=1, AdsetForTime=, Setforthisrotation=1,Banner=4, AT=1 Staticset=,
ccbot/2.0 (http://commoncrawl.org/faq/)

A Northern Irish woman has gone to court in the Caribbean to get her share of oil money from a company she helped found. Sheila McCaffrey from Kinawley, County Fermanagh, said she has been in living..