Rhokana Corporation Ltd v Inland Revenue Commissioners A company issued certain debentures secured by a trust deed, which provided, inter alia, that interest declared at sterling rates should be paid in sterling at the company’s bankers in London, or at certain offices in New York in USA dollars at the fixed rate of exchange of 4.86 dollars to the £, or at certain offices in Amsterdam, in Dutch florins at the fixed rate of exchange of 12.11 Dutch florins to the £. The deed further provided that interest on registered debentures would be paid by cheque or warrant on the company’s bankers sent through the post.