Liquidators secure €550k settlement

The High Court has approved a €550,000 settlement of a legal action by the liquidators of stockbroking firm Bloxham over alleged underinsuring of the firm.

The liquidators had claimed some €15m damages in their proceedings against the firm’s former insurance broker, Roberston Low, which had strongly disputed any liability and argued the firm understood the cover it had at all times and its consistent concern related to insurance had been the price of it.

The hearing opened last week but the sides agreed to attempt mediation on the suggestion of the president of the High Court, Mr Justice Nicholas Kearns.