Introduction

International investment law is one of the most dynamic fields of international law. Since the signing of the first bilateral investment treaty more than half a century ago , the number of investment agreements has increased dramatically. Today, academics and practitioners, investors and host States face a highly atomized and multilayered lattice of international obligations, including over 3000 BITs. Correspondingly, the total number of investor-State disputes had risen to 514 by the end of 2012 from fewer than 50 between the 1950s until 2000. The increasing participation of developing ...