INVESTORS in the failed Mark Synnott Life and Pensions Brokers are to get back 2p for every pound invested, writes Mary Canniffe. When the investment intermediary was put into liquidation in 1991 client funds of £2.3 million were missing.

The 109 investors involved were not expected to get any money back because the company had virtually no assets.

Liquidator Mr Des Guilfoyle, of accountants Coopers and Lybrand, pursued company directors for fraudulent and reckless trading. Director Mark Synnott was convicted of fraudulent trading and was sentenced for four years and three months in jail. Mr Guilfoyle took legal action to make him personally liable for the funds owed to investors.

Investors will receive payment around July 1997. The liquidation cost about £250,000 including legal fees.