Morrogh clients challenge court bid

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 Irish stockbroking community was thrown into turmoil following Mr Justice Roderick Murphy’s precedent-setting ruling.

However, an ad hoc group of investors is to lodge an appeal today, the last day possible, against Mr Justice Murphy’s ruling in the name of investor David Beechinor.