Practice and Procedure


PUBLISHED November 8, 2011

Conflict of laws - Civil and commercial matters Lornamead Acquisitions Ltd v Kaupthing Bank HF: Queen's Bench Division, Commercial Court (Mr Justice Gloster): 18 October 2011 The Commercial Court, Queen's Bench Division, dismissed the application by the Icelandic defendant bank for a stay of proceedings brought against it by the claimant company. The court took the decision to follow a previous judgment of the same court in proceedings against the same defendant, with the effect that the primary issue as to whether the defendant had been subject to a reorganisation measure within the meaning of the Credit Institutions (Reorganisation and Winding Up) Regulations 2004, SI 2004/1045 and the European Parliament and Council Directive (EC) 2001/24 (on the reorganisation and winding-up of credit institutions) was determined against the defendant. read more