A recent opinion from the U.S. Court of Appeals for the Eleventh Circuit offers a handful of practical takeaways for multinational businesses and their counselors who are engaged in international arbitration and litigation.

The appellate court’s June 25 opinion in EGI-VSR v. Coderch Mitjans, reversed in part and affirmed in part a $28 million Chilean arbitral award that the holder sought to confirm in Florida. The underlying arbitration resolved a claim for breach of a shareholder agreement brought by EGI-VSR, LLC against Juan Carlos Celestino Coderch Mitjans. EGI-VSR, LLC convinced the arbitrator that Coderch Mitjans breached the agreement by failing to buy EGI-VSR, LLC’s shares in a Chilean wine company, Viña Rafael S.A.