Abstract
Abstract Due to the interplay of modern global capitalism, corporate law, and principles of contemporary international law, international investment law is susceptible to parallel procedures for a single dispute. For financial, business planning, and legal reasons, the vehicles for making direct foreign investments are corporations, with separate legal personality and nationality, which are sometimes composed of other legal entities in intricate horizontal and vertical relationships. Thus, legally independent entities of different nationalities can converge in a particular investment. Add the shareholders, with their respective nationalities, and the number of potential claimants in an investment may expand further. If a host state concludes BITs with a number of the states of which the investor’s components are nationals, a rational investor can initiate for the same investment dispute, simultaneous arbitrations under different BITs and/or contracts containing arbitration clauses. Aside from the duplication of costs involved, such parallel procedures may lead to legal and factual inconsistencies in the different arbitrations.
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