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(2) Standard Chartered Bank HK through its affiliate Union Bank
had an inflow of funds (viz., the interest paid by Radcliffe to
Union Bank on the UB $325,000 loan) that was sufficient to cover
its outflow of funds for the interest presumably paid on the
Forward $325,000 deposit.116
We cannot determine the nature of the relationships, if any,
between (a) the respective rates of interest on the UB $325,000
loan and the Forward $325,000 deposit and (b) the respective
dates on which interest was payable or paid on that loan and that
deposit. This is because the record is inadequate. In this re-
gard, while the record shows certain facts relating to that
inquiry with respect to the UB $325,000 loan at issue (viz., cer-
tain of the interest rates and percentage interest rates that
were in effect for certain periods and certain of the dates on
which interest was payable or paid on that loan), the record does
not disclose those facts with respect to the Forward $325,000
deposit.
Turning to whether the Forward $325,000 deposit that secured
the UB $325,000 loan was applied to repay that loan, petitioner
claims on brief that Radcliffe repaid that loan. While the re-
cord does not disclose (1) the identity of the person or persons
who provided the funds to repay it or (2) whether or not the For-
ward $325,000 deposit was so applied, it does establish that the
116 See supra note 113.
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