- 27 -
the interest rate on BB $1,625,000 Loan No. 2.17 During that
period, the interest rate on BB $1,625,000 Loan No. 2 was 8.25
percent and the interest rate on the third Double Wealth certifi-
cate of deposit was 7.75 percent. Interest on that loan was paid
on the following dates:
July 15, 1985
Aug. 12, 1985
Sept. 12, 1985
Oct. 15, 1985
Nov. 14, 1985
Dec. 12, 1985
Jan. 14, 1986
Feb. 13, 1986
Mar. 11, 1986
Apr. 14, 1986
May 12, 1986
Throughout the period July 11, 1985, until June 11, 1986,
during which the three certificates of deposit in the name of
Double Wealth served as security for BB $1,625,000 Loan No. 2,
Bangkok Bank LA branch blocked the deposit represented thereby so
that it could not be withdrawn by Double Wealth.
Pursuant to instructions of petitioner and Ms. Gaw on behalf
of Double Wealth, Bangkok Bank LA branch credited monthly to
Double Wealth's account with Bangkok Bank HK branch the interest
payable for the period August 1985 through May 1986 on the cer-
17 By telex dated Aug. 17, 1985, Bangkok Bank HK branch informed
Bangkok Bank LA branch that Radcliffe preferred that the interest
rate on BB $1,625,000 Loan No. 2 be set at 8.25 percent until
that loan became due on June 11, 1986. That telex further stated
that "we [Bangkok Bank HK branch] understand * * * [setting the
interest rate on BB $1,625,000 Loan No. 2 at 8.25 percent] means
the deposit interest rate will also be fixed at 7.75 * * *
[percent] until 11 Jun 86". Bangkok Bank LA branch acceded to
Radcliffe's wishes.
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