Madoff Feeder Suits Belong in Europe, Banks Tell 2nd Circ.

Law360, New York (July 26, 2012, 9:42 PM EDT) -- Italian bank Unicredit SPA and Austrian banker Sonja Kohn urged the Second Circuit on Tuesday to affirm a district court's dismissal of a previously consolidated class action brought by investors in foreign funds who allegedly lost billions in Bernard L. Madoff's Ponzi scheme, saying the underlying suits belong in European courts. 

In two briefs, Unicredit and Kohn said a New York federal court was correct in November to dismiss the actions on the basis of an inconvenient forum, saying most of the relevant parties in the...
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