AUSTRIA may have to take control of Vienna-based Bank Medici after its clients lost billions of dollars invested with Bernard Madoff.

This would make Bank Medici the first financial institution to collapse after its clients had lost money in funds invested with Mr Madoff.

Out of a total of $US3.6 billion ($5.2 billion) under management by the small private bank at the end of September, $US2.1 billion was invested in funds ran by Mr Madoff. The bank did not return phone calls.

In the United States, a leading law firm is considering asking a court in New York to publish a list compiled by Bernard Madoff detailing the whereabouts of his assets.

Pomerantz, a New York law firm that is seeking to sue hedge funds that channelled money to Mr Madoff, is actively considering applying to the Southern District Court of New York to make the list public, The Times has learnt.

The 70-year-old financier has been ordered by the court to draw up a detailed list of all investments, assets, loans, lines of credit and accounts held by his company and deliver it to the Securities and Exchange Commission (SEC) by today.

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