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April 16, 2012 1:55 am

IRS, Bank of New York trial documents

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Read the key pre-trial documents filed by the Bank of New York and the Internal Revenue Service ahead of the opening of this week’s legal case into Stars - “structured trust advantaged repackaged securities”.

At issue is whether Stars was set up primarily to generate foreign tax credits, as the IRS contends, or whether it was a legal way for Bank of New York to obtain financing at rock-bottom rates.

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