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Starr Gets Boost From U.S. Documents in AIG Bailout Case

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The Federal Reserve Bank of New York’s legal advisers sought to devise ways to avoid accountability to shareholders in the 2008 bailout of American International Group Inc., according to evidence introduced at the end of trial testimony over terms of the rescue.

“We succeeded in finding a structure that allows the trust to gain control of the company without shareholder votes,” John Brandow, an outside lawyer for the Federal Reserve Bank of New York, wrote in one of the documents summarized in the trial of Starr International Co. and ex-AIG chairman Maurice Greenberg’s lawsuit against the U.S. government.