Morrogh clients' shares to pay fees

CLOSE to the 30% of the €10m to €11m in shares belonging to the clients of former stockbrokers W&R Morrogh will be used to pay some of the €5m plus in costs.

These costs have been run up by the receiver since the company was "hammered" in April of 2001.

And no payments or share transfers will be made until early next year to clients whose shares in publicly traded companies have been tied up since the closure of Cork's oldest stockbroking firm.