Partners in stockbrokers facing claims for €10m over investment fund

VARIOUS partners in Bloxham stockbrokers are facing court claims for almost €10 million arising from allegedly negligent advice to invest in a bond that later fell by more than 97% in value.

Two solicitors yesterday claimed they had suffered combined losses of more than €1.4m over investment in the bond.

Their claims come after the Solicitors Mutual Defence Fund, the main insurance body for solicitors with 3,500 members, last month brought proceedings against Bloxham’s, alleging its ability to indemnify solicitors was affected by more than €8m due to losses suffered after the bond’s value fell.