INVESTORS who have lost £1.6 million to £1.7 million from the collapse of Taylor Asset Management are understood to have come forward and identified themselves to the liquidator. Sources say that, in addition to this, a further £1 million may be 55 following the disappearance of the Taylor Group chairman and managing director, Mr Tony Taylor, but that more investors are unlikely to come forward as they may have been hiding the money from the Revenue Commissioners.

The liquidator, Mr Paddy McSwiney, is continuing his investigation of the group and particularly of Taylor Asset Managers (TAM) and another liquidated company, the Taylor Investment Group Ltd (TIG). Fees from policies sold by TAM appear to now be in TIG accounts.

Mr McSwiney has said that TIG may owe TAM £229,000 and further fees are understood to be due from international fund management companies relating to the sales of their policies by the Taylor Group.

There is also speculation that Mr McSwiney may move to wind up at least one other company in the group - Taylor Integrated Planning Services (TIPS). Accounts for TIPS for 1992 and 1993 were lodged in the Companies Office and subsequently withdrawn on the instructions of Mr Tony Taylor, shortly before he left the country.

The former managing director of TIPS, Mr Eddie Hobbs - who left the Taylor Group last April - has objected to the refiling of the accounts on the basis that he signed the accounts without being made aware that they were qualified by TIPS auditor, Mr Niall Byrne. Mr Byrne is understood to have qualified the accounts on the basis that full information was not available to allow him to properly judge the company's financial position.

The investigation by the Department of Enterprise and Employment into the affair is continuing.