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The Boston Globe

Business

Iceland cleared of violations in landmark online bank case

BRUSSELS — Iceland on Monday won a landmark case at a European court, ending an acrimonious legacy from the collapse of its banking system more than four years ago.

The court upheld the country’s refusal to promptly cover the losses of British and Dutch depositors who had put more than $10 billion in Icesave, the bankrupt online offshoot of a failed Icelandic bank.

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