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U.S. Funds Step Up Legal Battle After ‘Absurd’ Iceland Ruling

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Two U.S. funds with millions of dollars worth of assets locked behind Iceland’s capital controls have appealed a decision by the EFTA Surveillance Authority to reject their claims that they were treated unfairly.

The move is the latest installment in a legal battle pitting the northern European government against Eaton Vance Corp. and Autonomy Capital LP.