Morrogh clients still awaiting claims process

MORE than seven years after the collapse of stockbrokers W&R Morrogh, 45 of the firm’s clients have yet to have their claims processed by the Investor Compensation Company Limited (ICCL).

The details are included in the ICCL’s 2008 Annual Report published yesterday, which shows total reserves in its compensation funds at year end stood at €24.6 million, an increase from the previous year of €5.2 million.

To date €7.5m has been paid in compensation to some 2,500 former clients of the failed stockbroking firm W&R Morrogh which traded on Cork’s South Mall.