Petroceltic staff to raise concerns over ‘write-down’ of rights

Senior staff at Petroceltic International are expected to voice concerns about the alleged writing-down of their employment rights, in opposing a survival scheme for the company due to be put before the High Court for approval next week.

About 30 senior staff, including senior executives and management, have voted against the proposed scheme at creditor meetings.

Under the proposals prepared by examiner Michael McAteer, the staff, who are owed some €3.6m, are due to receive just 5% of monies owed to them under “change of control” clauses in their contracts.