PERMISSION: A GROUP of investors who have sued in the US courts over losses allegedly caused by the collapse of Bernard Madoff's investment firms have obtained permission from the High Court to take evidence from an Irish bank employee

.The investors sought permission to have evidence taken from David Nolan for proceedings brought over alleged negligent operation and management of Optimal Strategic US Equity Ltd Fund, which is based in the Bahamas.

The investors claim their money was invested by the fund with Bernard Madoff’s firm Bernard L Madoff Investment Services LLC (BMIS) and that it disappeared after Madoff was exposed as running a Ponzi scheme. Yesterday, at the High Court, Mr Justice Michael Peart granted orders allowing lawyers involved in the US proceedings take evidence here from Mr Nolan, the head of the investor services department of HSBC Securities Services Ireland Ltd, Grand Canal Square, Grand Canal Harbour, Dublin.

Yesterday’s application, granted on an ex-parte (one side only) basis, was adjourned to a date at the end of March.