Minister of Telecommunications and E-commerce Renee Webb is suing local investment firm Emerald Financial for a "substantial" amount of money.

Ms Webb yesterday told The Royal Gazette that she had exhausted all other means of trying to get monies owed to her from her former employers - and had to resort to the courts.

But Emerald Financial Group's president said he was "shocked" at the claim, which he said are for commissions for business she had not made. He said his company would fight it vigorously in the courts.

Last week Ms Webb filed a writ in Supreme Court against Emerald Financial, but Ms Webb declined to comment about the amount of money she was suing for.

"It is a personal matter," she said. "They owe me some money and it has now been a year this month that it is owed. I can't remember off hand how much it is for, but it is a substantial amount. Whatever it is, I am going for it."

She added later: "I have exhausted all other means of recovering the amount."

Mr. Bolden, who set up Emerald Financial eight years ago with his wife Antoinette, said: "We are shocked that Minister Webb has requested financial commissions from us in return for the alleged introduction of institutional investment business which she has not made.

"We think that this is highly inappropriate and we strongly dispute her claims. As this matter is now in litigation, we will be defending our position in the legal proceedings."

Ms Webb was formerly a financial consultant at Emerald Financial Group in 1998 and 1999.

It is not known through the court filings if the legal action is connected to the time Ms Webb worked at the company and Ms Webb did not comment on the matter.

Emerald Financial has as its main shareholder Mrs. Bolden and her husband is the chief executive officer of the investment company.

The company, which is run by the couple who are both chartered accountants, manages pensions, savings plans as well as working with high net worth individuals as well as the finances of more average clients on the Island.

Mrs Bolden is executive vice president of Emerald Financial Group and president of Emerald Financial Ltd and Executive Vice President of Directrade.

The Emerald Group have their offices on Reid Street, almost directly opposite the Ministry of Telecommunications and E-commerce and Ms. Webb's offices.

Renee Webb was shadow Health and Social Services Minster and Hamilton East incumbent when she began working at Emerald full time and was duly elected.

She was appointed Minister of Telecommunications and later E-commerce in the new Progressive Labour Party's cabinet.