Tenth Circuit Holds That Foreign Arbitration Award Still Subject to

International law systems, justice, human rights and global business education concept with world flags on a school globe and a gavel on a desk on blue background.In Compañía De Inversiones Mercantiles S.A. v. Grupo Cementos De Chihuahua S.A.B. De C.V., 2023 U.S. App. LEXIS 602, __ F.4th __ (10th Cir. Jan. 10, 2023), the Tenth Circuit affirmed the district court’s refusal to vacate an earlier U.S. judgment confirming a foreign arbitration award. After the District of Colorado originally confirmed the arbitration award, a Bolivian court 10th Circuit Spotlightannulled that same award. Nonetheless, the Tenth Circuit held that the district court acted within its discretion in denying a F.R.C.P. 60(b)(5) motion to vacate the U.S. judgment.

Original Shareholder Agreement

Grupo Cementos de Chihuahua (GCC) and Compañía De Inversiones Mercantiles S.A. (CIMSA) were two principal shareholders in Sociedad Boliviana de Cemento, S.A. (SOBOCE), a Bolivian cement company. GCC and CIMSA entered into a shareholder agreement (Shareholder Agreement). The Shareholder Agreement required any disputes to be resolved through international arbitration under the Inter-American Commercial Arbitration Commission. The parties agreed that the arbitration would occur in Bolivia.

Original Arbitration


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