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Case 1:07cv07783AKH Document 517 Filed 10/30/08 EXHIBIT Y Page 1 of 27 Case 1:07cv07783AKH Document 517 Filed 10/30/08-Page 2 of 27 THE COMPANIES LAW (AS AMENDED) COMPANY LIMITED BY SHARES MEMORANDUM
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Bear Stearns High-Grade Structured is a financial product that was created and offered by Bear Stearns, a former global investment bank.
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