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Loan No. 2 were credited to the account of Bangkok Bank HK branch
with Bangkok Bank LA branch.14
To document BB $1,625,000 Loan No. 2, petitioner signed on
behalf of Radcliffe a promissory note that was made payable to
Bangkok Bank LA branch and that was in the same amount as that
loan. The continuing, unlimited, unconditional promise and the
general security agreement signed by petitioner on behalf of
Radcliffe as part of the BB Loan No. 1 transaction applied to BB
$1,625,000 Loan No. 2, as well as to the increase in that loan
and the renewal of that increased loan.
BB $1,625,000 Loan No. 2 was secured by a $1,625,000 cer-
tificate of deposit issued by Bangkok Bank LA branch in the name
of Traveluck (Traveluck $1,625,000 CD). That certificate of
deposit was issued on June 11, 1985,15 the same date on which BB
$1,625,000 Loan No. 2 was funded, and was to mature on June 11,
1986, the same date on which BB $1,625,000 Loan No. 2 was due.
Throughout the period June 11, 1985, until July 11, 1985, Bangkok
Bank LA branch blocked the deposit represented by the Traveluck
$1,625,000 CD so that it could not be withdrawn by Traveluck.
The interest rate on BB $1,625,000 Loan No. 2 was set at .5
14 A financial statement of Radcliffe, dated Mar. 31, 1985, and
signed by petitioner, indicated that a $1,625,000 loan was
outstanding from Intercontinental to Radcliffe and that that loan
was to be replaced with a loan from Bangkok Bank LA branch.
15 The deposit in the name of Traveluck that was used to pur-
chase the Traveluck $1,625,000 CD was made in Bangkok Bank LA
branch on June 11, 1985, the same date on which BB $1,625,000
Loan No. 2 was funded.
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