PARALLEL PROCEEDINGS IN INVESTMENT TREATY ARBITRATION : AN ANLYSIS OF EXISTING LEGAL MECHANISMS FOR PROBLEM RESOLUTION
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Abstract
Foreign investors are protected by an investment treaty arbitration provision, which provides them with the right to bring legal action directly against the host state. However, foreign investors may exploit these provisions by structuring businesses to attribute multiple nationalities to controlled entities. This enables them to initiate parallel proceedings by filing disputes with arbitral tribunals under multiple investment treaties. While not inherently unlawful, parallel proceedings may have several undesirable consequences that must be considered: inconsistent awards, double remedies, wasted judicial resources, and disadvantages to the host state.
This article analyzes legal mechanisms, particularly treaty provisions, tribunal cooperation, and general principles, to determine methods for managing parallel proceedings under investment treaties. Data was gathered from Thai and English language sources, in addition to reports from international organizations. An examination of the characteristics and causes of parallel proceedings is followed by a study of related problems and consequences. Applications and limitations associated with different legal mechanisms are also analyzed.
Results are that each kind of mechanism has specific limitations, so participants in investment treaty arbitration must collaborate to clarify extant legal systems, avoid parallel proceedings and limit negative effects.
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บทความหรือข้อความคิดเห็นใด ๆ ที่ปรากฏในวารสารบัณฑิตศึกษานิติศาสตร์เป็นวรรณกรรมของผู้เขียนโดยเฉพาะคณะนิติศาสตร์ มหาวิทยาลัยธรรมศาสตร์ และบรรณาธิการไม่จำเป็นต้องเห็นด้วย
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เอกสารอื่น ๆ
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