Persons entitled
- Grindlays Bank Limited
Amount secured
All monies due or to become due from the company to the chargee on any account whatsoever
Short particulars
A) all the company's beneficial interest and all its benefits rights and title in and under a building contract dated 19TH may, 1980 as amended by an addendum thereto dated 25TH june 1980 ("the contract") between richards (shipbuilders) limited ("the builder") and the company relating to and including yard no 550 ("the vessel") as she is constructed and all materials appropriated to her in accordance with clause 8 of the contract whether in the building yard or workshop of the builder or of its subcontractors and all monies (if any) payable by the builder to the owner thereunder. B) all monies payable to the owner in respect of the insurances effected by the builder under the contract and, all the owner's joint or other interests in connection with such insurances.