TNAG-1269-FCO40-1619-Banking-situation-in-Hong-Kong-1983 — Page 84

Hibor,

payable at quarterly intervals,

option to treat the payment of interest

accretion to principal

(c) That it be secured upon its own shares.

with an

an

(a)

That it shall execute a float charge in favour

of the Bank to secure the

鼎

present and future

indebtedness of CIL, CHL and

borrowers.

their. «related

t

(e) That initial drawdown does not take place till

all securities are in plate.

(£) That

Arguments

drawdown

be in separate tranches tied in

with the instalments payable to CIL..

5.

:

Ever since the suspension of trading of CIL in late October 1982, BMFL has been pursuing. discussions with the Carrian Group to improve its own security position outside the rescue scheme at present being formulated the Financial Advisers of the Carrian Group. As a result

by

of this, BMFL, although a recipient of all the

rescue scheme documents,

Carrian

has never taken any part in the

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