THE recent decision by the High Court in connection with the collapse of the stockbroker W&R Morrogh is very disturbing.

THE Irish Stock Exchange (ISE) has conceded that the liquidation of stockbrokers W&R Morrogh has exposed major weaknesses in Irish law, leading to an unsatisfactory process of winding up the firm.

DISGRUNTLED clients of defunct stockbroking firm W&R Morrogh are to mount a Supreme Court challenge to a High Court decree which ordered that more than €5 million in shares held in their names should be used to pay the estimated €3m costs of receiver Tom Grace.

THE collapse of stockbrokers W&R Morrogh is expected to cost the Investor Compensation Fund €5.2 million it has emerged.

MORE than €2.2 million in compensation payments is to be sent out to 579 clients who lost cash when stockbroking firm W&R Morrogh collapsed 15 months ago with a shortfall of €10 million.