WALKER, District Judge:
INTRODUCTION
Plaintiff Compania Chilena De Navegacion Interoceanica, S.A. ("CCNI") moves to confirm a $48,000 arbitration award rendered October 16, 1986. Defendant Norton Lilly & Co., Inc. ("NL") cross-moves to vacate this award, as well as an order requiring NL to post a bond of $123,000, which would fund any future arbitration orders entered against defendant. In the alternative, defendant moves to stay the
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