Persons entitled
- Hsbc Bank PLC
Amount secured
All monies due or to become due from the company to the chargee on any account whatsoever
Short particulars
Any credit balance due to the company nder condition 13 of the agreement for the purchase of debts between the company and hsbc as more particularly described in schedule 1 to the legal assignment (the contract) and includes any discounting allowance as defined in and due under the contract the benefit of all the other provisions of the contract and all securities (if any) for the contract but only in respect of the credit balance (the contract monies). Clause 9 of the legal assignment states that the company must ensure the contract monies remain free from any mortgage lien charge pledge security or other interest affecting them other that the legal assignment in favour of the bank.