The liquidator of Money Markets International Stockbrokers Ltd was given leave by the High Court yesterday to sue any client who owes the company more than £1,000. The liqudiator, Mr Tom Kavanagh, is suing seven directors of the company. He alleges they misappropriated £1.9 million from the company and he is suing for fraudulent conversion and breach of fiduciary duty.

In court yesterday, Mr John Gleeson, for the liquidator, said Mr Kavanagh wanted the court's permission to bring debt collecting proceedings against MMI client debtors of which there were about 200, owing about £5 million.

Mr Gleeson said one debt was for £400,000 and he asked that the liquidator be allowed to take proceedings on the basis of a representative selection of the bigger claims.