Court approves payments to clients of bankrupt stockbroking firm

The High Court has today approved an additional and final payment to the clients of a stockbrokers firm which collapsed with losses of millions of euro more than 10 years ago.

W & R Morrogh, a Cork-based stockbrokers ceased trading in April 2001 after it was discovered the firms junior partner Stephen Pearson embezzled €5.5m of clients' funds to play the stock market.