| 8.1°C Dublin

Bloxham to cease trading

A LIQUIDATOR has been appointed to Bloxham stockbrokers by the High Court. The company was ordered to cease trading by the Central Bank after it was revealed was undercapitalised.

An application to have the company wound up was made as the partners saw "no prospect of an improvement in Bloxham's trading position".

The stock broking firm holds membership of both the Irish and the London stock exchanges and had more than 17,000 clients.

Its largest creditors include NIB bank, which is owed €8.5m, and the revenue commissioners, who are owed €2.3m.

The High Court has appointed Mr Kieran Wallace of the firm KPMG as provisional liquidator.