Dialogue Ireland until July 2012 had very little knowledge about the oil business. We had observed a number of Irish Business media outlets who provided free publicity to the INE company which was just propaganda. Yes the company is great and there is oil there and there is no doubt about it. However, the problem is that as Justice Bannister pointed out the company was running onto the rocks due to undue influence of Quinn.
Then Justice Bannister issued his magisterial judgement on the oil company which was in response to claims made by Sheila McCaffrey. They were devastating for her and for Susan Morrice, not to mind tony Quinn. A story that was incomprehensible suddenly began to make sense.
It is not about oil but about influence.
We noted that there was a propaganda war which followed the judgement to spin it in their respective directions.
As a duty of care we began to publish a number of posts taking the judgement apart and suggesting that the B shareholders should contact Justice Bannister directly.
We were struck at the fact that when the Spotlight programme came out that some of the shareholders were still in thrall to Sheila and seemed to be involved with her project to overturn what the judge had said. Also whatever residual programming by Quinn was still there people who were now attempting to plot their exit from this catch 22 were unable to do so in a way that was transparent.
Then at our seminar at Christmas with John Butler it became clear why. Sheila had not addressed the Educo programming and a lot of people who leave a control group like Quinn’s do not seek professional help and hence they are vulnerable to joining other groups or becoming victims to venture capitalists who want to capitalise on the INE company with it being in such disarray. This comes out clearly in the Bannister judgement. Morrice and McCaffrey were for obvious reasons trying to stop a liquidation of the company taking place. However both tried to sweet talk the B Shareholders into their way of thinking. The only problem was the Bannister judgement did not allow for that to happen.
Then what was the future for the B Shareholders?
To many of them liquidation looks like their only way forward having really not got a fair return for their investment. Better to get a few crumbs from the table than no bread at all. That is were it stands today, and we await developments as time is moving on!
Also it is clear that when there is an Educo Seminar or meeting it in fact becomes an oil meeting. Note the comment of the staff at the Educo Seminar held at Clontarf Castle in early January:
We thank the management and staff of the Clontarf Castle for taking this most bizarre Conference in good humour and hopefully your local patrons can touch the spot where St Tony stood and delivered the Sermon on the Mount of Olive Oil. As one member of staff said to me, “it is some kind of oil business meeting.”
So before the former Educoists who are B Shareholders can really be empowered to address the oil issue they need to deal with the Educo issue.
If they go before Justice Bannister or some other judge they need to bring this up head on otherwise they are going to experience what Sheila experienced namely rejection or become targets of hard nosed financial sharks.