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Feb 10, 2011

Minority shareholder in B.N.E. wins in Eastern Caribbean Supreme Court

Tony Quinn

A ruling was handed down in the Eastern Caribbean Supreme Court in a case brought by Maranco LLC against Susan Morrice, Tony Quinn, International Natural Energy LLC and Belize Natural Energy Limited. Maranco is a minority shareholder in I.N.E., which in turn is the sole shareholder of B.N.E. In a media advisory issued on Wednesday, Maranco says that despite significant revenues earned by B.N.E., I.N.E. never paid dividends to its shareholders and refused to provide requested information. The suit was filed in the Nevis court on July sixth 2010 to seek relief against the two oil companies, as well as Morrice and Quinn who are directors at I.N.E. The court ruled in favor of Maranco and ordered that Quinn purchase its shares in I.N.E. without a minority discount, pay a five percent per annum interest on any money owed to the company and pay the costs of court. It was also declared that Quinn breached his fiduciary duties to I.N.E. In its advisory, Maranco calls for I.N.E. to disassociate itself from Quinn and sue for damages suffered by its shareholders as a result of his actions.

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2 Responses for “Minority shareholder in B.N.E. wins in Eastern Caribbean Supreme Court”

  1. Earl Grey says:

    Did they ever leave????????????

  2. Initiate! says:

    Quinn, this is some seriously negative news about you
    I thought you were supposed to be a good positive new age guru!!
    Shame! Shame!

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