Continental Bank N.A. v. Aeakos Compania Naviera S.A. and others - Court of Appeal (Sir Stephen Brown P., Steyn and Kennedy L.JJ.) - 10 November 1993

Exclusive English jurisdiction clause - Proceedings commenced in Greece - Whether English court entitled to take account of fact that Greek court was the court “first seised” of the matter - Whether injunction should be granted restraining Greek proceedings

The first to 15th defendants were one-ship companies registered in Panama and Liberia. The 16th to 18th defendants were three members of the Papalios family and were guarantors. The plaintiff bank had granted a loan facility of U.S. $56 million to the defendants. The bank contended that it was owed more than $32 million plus interest.