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date: 17 October 2019

Abstract and Keywords

As the number of investment agreements has risen, the cases brought to dispute settlement have become increasingly complex too, encompassing multiple contracts and hence multiple parties and issues. This article looks briefly at the most common situations where parallel proceedings can occur in investment arbitration. Parallel proceedings, both between domestic courts and arbitration tribunals and between arbitration tribunals, is a situation that may engender a higher risk of inconsistent and conflicting decisions. It is a result of three different situations and these are discussed here. It then examines whether the principles of res judicata and lis pendens apply in investment arbitration and could prevent conflicting awards. It finally looks at the way investment treaties regulate and prevent the occurrence of parallel proceedings, with a particular emphasis on the consolidation of claims.

Keywords: investment agreements, dispute settlement, parallel proceedings, arbitration tribunals, conflicting decisions

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