LAIF X SPRL v. Axtel, S.A. de C.V.

JACOBS, Circuit Judge.

Under the bylaws of Axtel S.A. de C.V. (“Axtel”), a Mexican corporation, disputes between and among the company and its shareholders are subject to arbitration. Disputes have arisen between LAIF X SPRL (“LAIF X”) and Telinor Telefonía (“Telinor”). LAIF X contends that Telinor violated the Axtel bylaws by entering into a subscription agreement that illegally diluted LAIF X’s ownership interest in Ax-tel. Although the parties are currently arbitrating this dispute, LAIF X claims Telinor has in effect “refused” to arbitrate by filing a lawsuit in Monterrey, Mexico, that…