The Weekly Law Reports
[1986] 3 WLR 606
[COURT OF APPEAL]
MUDUROGLU LTD.
v.
T.C. ZIRAAT BANKASI
1986 June 9,
10,
11,
12;
July 3
July 3
Sir John Donaldson M.R., Mustill and Stocker L.JJ.
Practice
— Stay of proceedings
— jurisdiction
— Turkish Cypriot company entering into construction contract for works in Libya
— Counter-guarantee of advance payments by Turkish bank
— Counter-guarantee secured by deposits by plaintiffs
— Turkish bank paying under counter-guarantee and enforcing security
— Action by plaintiffs to recover deposits
— Whether action to be stayed
— Exercise of discretion