The "Madoff Case Global Alliance of Law Firms" held its second meeting today, and its first in the U.S., at the Manhattan office of law firm McCarter & English. McCarter's Gaytri Kachroo is a member of the Alliance and the lawyer for Madoff whistleblower Harry Markopolos.

Members of the Alliance emerged from the meeting today to announce that it plans to propose that an International Financial Court be established as a forum for victims of financial crimes. Charles Grice, the Managing Director of New York consulting firm CRI Compliance who has attended both meetings, told me today that the proposal will suggest the creation of an entity through the United Nations that is similar to the Court of International Justice, but which is a civil court for global financial crimes such as the alleged schemes carried out by Madoff and Allen Stanford.

The Alliance plans to present its written proposal to the Group of Twenty ("G-20") Finance Ministers and Central Bank Governors before they meet in London on April 2, 2009.