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In 2008, Iceland’s three major banks imploded. The financial crisis threatened to take down the country’s entire economy. By May of this year, a trustee for one of the three failed banks, Glitnir Banki, decided to try and recover significant funds for creditors by filing a lawsuit. Nothing unusual about that, except for the fact that the $2 billion fraud suit was filed not in Iceland, but in state court in Manhattan.

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