Yes, there are definately situations where this happens. Not often, but usually in important situations involving large pots, allin players etc. I thought I knew the rule, but apparently it is a bit of a gray area.
I looked up what I could find in 'Cookes rules of poker'.
There he states that my thinking is correct. As long as the allin raise is at least HALF the original bet, then you can reraise. But he talks/writes in terms of limit poker, not no limit. I am not sure if this changes things.
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