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Case Citations [i] (Fall 2023)

handle is hein.ali/aliuslaw0034 and id is 1 raw text is: THE AMERICAN LAW INSTITUTE Fall 2023 Citations THE U.S. LAW OF INTERNATIONAL COMMERCIAL AND INVESTOR-STATE ARBITRATION CHAPTER 4. POST-AWARD RELIEF TOPIC 2. GROUNDS FOR POST-AWARD RELIEF SUBTOPIC (A) GROUNDS FOR DENYING CONFIRMATION, RECOGNITION, AND ENFORCEMENT OF CONVENTION AWARDS § 4.16. Post-Award Relief Contrary to Public Policy C.A.10, 2023. Com. (a) cit. in sup.; coms. (b) and (c) quot. in sup. (quoting coms. (b) and (c) to § 4.16 of Prop. Final Draft, 2019, which are now coms. (b) and (c) to § 4.16 of the Official Text). Controlling shareholder of a Bolivian cement company filed a petition to confirm an arbitration award it obtained against purchasers of a minority interest in the company. The district court confirmed the award and denied purchasers' subsequent motion to vacate, in which purchasers argued that Bolivia's highest court had since annulled the award, finding that recognition of the annulment order would be repugnant on public-policy grounds, in that it would undermine the interest in finality of the award and the order confirming the award. This court affirmed, holding that the district court did not abuse its discretion in declining to extend comity to the Bolivian annulment order. The court cited Restatement of the Law, The U.S. Law of International Commercial and Investor-State Arbitration § 4.16 in noting that, because the New York Convention on the Recognition and Enforcement of Arbitral Awards explicitly permitted enforcement of an arbitral award on public-policy grounds, it also permitted a court to refuse to enforce the annulment of an arbitral award on public-policy grounds. Compania de Inversiones Mercantiles S.A. v. Grupo Cementos de Chihuahua S.A.B. de C.V., 58 F.4th 429, 453, 462, 464. COPYRIGHT C2023 By THE AMERICAN LAW INSTITUTE All rights reserved Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.