Conflict of laws – Foreign proceedings. The Commercial Court dismissed the claimant company's application to stay the defendant banks' counterclaims and declaration claim in a dispute concerning the failed development of a building in Spain. The court held that the claims had different issues and objectives to related proceedings in Spain, and that the risk of irreconcilable judgments was not so great as to justify allowing the application. Further, the court would not exercise its discretion to order that the English proceedings should be stayed.