Santander Madoff Suit Belongs In Ireland: 11th Circ.

Law360, New York (August 30, 2011, 6:38 PM EDT) -- The Eleventh Circuit on Tuesday affirmed a Florida judge's decision that a proposed class action against Spanish banking giant Banco Santander SA for investing more than $3 billion in Bernard L. Madoff's $65 billion Ponzi scheme should be tried in Ireland.

U.S. District Judge Paul C. Huck dismissed the U.S. portion of the action in July 2010, on grounds that the forum was inappropriate, saying more parties and witnesses would be located in Ireland than in any other location.

The lead plaintiffs, Inversiones Mar Octava Limitada...
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