In a consolidated appeal of two judgments to enforce a foreign arbitral award against appellees as alter egos of the then defunct award debtor, the district court's judgment dismissing both the initial action to enforce and the subsequent action to confirm a foreign arbitral award is: 1) vacated as to the initial action where, a) it erred in determining that the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards and Chapter of the Federal Arbitration Act, 9 U.S.C. section 201 et seq., require appellants to seek confirmation of a foreign arbitral award before the award may be enforced by a United States District Court, and b) in holding that appellants' fraud claims should be dismissed prior to discovery on the ground of issue preclusion as issue preclusion is an equitable doctrine and appellants plausibly allege that appellees engaged in fraud; and 2) dismissed as to appeal of the judgment dismissing the action to confirm, where it is moot.