Morrogh crash prompts call for law change

A government working group will recommend changes in the law so that client funds in a failed investment firm will not be used to pay the fees of a receiver or liquidator.

2nd July, 2005

A government working group will recommend changes in the law so that client funds in a failed investment firm will not be used to pay the fees of a receiver or liquidator.

The moves comes after investors in W & R Morrogh, the Cork stockbroking firm, lost €4.6millionwhenthe business collapsed four years ago.

The High Court ruled in 2003 that the firm's receiver, Tom Grace of PricewaterhouseCoopers, could use client funds held by the...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The year in review

Legacy Richie Oakley 11 months ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago