R.A. Argueta, Husband Mary Argueta, Wife Grupo Sal Corporation v. Banco Mexicano, S.A. Francisco Suarez Davila Alonso Cuevas Del Villar

OVERVIEW

R.A. Argueta, his wife, Mary Argueta, and Grupo Sal Corporation (“Appellants”) appeal the district court’s order granting appellee Banco Mexicano, S.A’s motion to dismiss the First Amended Complaint (“FAC”) pursuant to a forum selection clause requiring actions arising from the agreement between the parties to be brought in Mexico. Appellants contend that enforcement of the forum selection clause would be unreasonable because they would not receive a fair trial in Mexico. We have jurisdiction pursuant to 28 U.S.C. § 1291 , and we AFFIRM.

FACTS

This appeal arises from two loan agreements between R.A. Argueta (“Argueta”), a citizen of El Salvador and lawful permanent resident of the United States, and Banco Mexicano. The first agreement (hereinafter “San Carlos Loan”) involved property in San Carlos, Sonora. In 1980, Grupo Sal Corporation, a Cayman Islands corporation owned by Argueta and other shareholders, purchased 215 improved lots in San Carlos. Argueta arranged to redeem the shares held by the other shareholders and to promote the sales of the lots by himself. He borrowed $2,000,-000 (U.S.) from Banco Mexicano on November 1, 1989, to finance the buy-out. The San…