In Lornamead Acquisitions Ltd v Kaupthing Bank HF [2011] EWHC 2611 (Comm), the Commercial Court considered an application by the insolvent Icelandic bank to stay English proceedings. The court considered arguments based on the Credit Institutions (Reorganisation and Winding Up) Regulations 2004 (SI 2004/1045), Article 17 of the 1988 Lugano Convention and forum non conveniens. It also discusses the extent to which the court was bound to follow an earlier first instance decision, Rawlinson & Hunter Trustees SA v Kaupthing Bank HF [2011] EWHC 566 (Comm).