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that loan was set at a rate that was .75 percent above Bangkok
Bank LA branch's prime rate and interest was payable on the first
day of each month.
During the period May 16, 1986, until January 14, 1987, the
following actual interest rate percentages were applicable to the
Bangkok Bank Los Angeles branch loan to Radcliffe for the follow-
ing periods:
Actual Interest
Period Rate Percentage
May 16, 1986, until Sept. 10, 1986 9.25
Sept. 10, 1986, until Jan. 14, 1987 8.25
Interest on that loan was paid on the following dates:
June 16, 1986
July 9, 1986
Aug. 8, 1986
Sept. 12, 1986
Oct. 14, 1986
Nov. 17, 1986
Dec. 5, 1986
Jan. 12, 1987
Jan. 14, 1987
(Hereinafter, the original BB Loan No. 1 and the renewals of that
loan will be referred to collectively as BB Loan No. 1.)
B. BB Loan No. 2
By letter dated May 23, 1985, petitioner requested on behalf
of Radcliffe that the Hong Kong branch of Bangkok Bank Ltd.
arrange for the Los Angeles branch of that bank to fund a loan of
$1,625,000 to Radcliffe (BB $1,625,000 Loan No. 2). Bangkok Bank
HK branch complied with that request, and Bangkok Bank LA branch
funded a $1,625,000 loan to Radcliffe on June 11, 1985. That
loan was due on June 11, 1986. The proceeds of BB $1,625,000
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