Abstract
The dispute in Rand and Sembi v Serbia concerned land located near the Serbian capital’s airport, which was owned by foreign investors. The investors—Rand Investments Limited, William Archibald Rand, Kathleen Elizabeth Rand, Allison Ruth Rand, Robert Harry Leander Rand (the Rands) and Sembi Investment Limited (Sembi)—claimed that their rights as investors were compromised by a Serbian privatisation programme. Together they owned 75.87 percent of a farm of almost 300 hectares. The Canadian Rands relied on the Agreement between Canada and the Republic of Serbia for the Promotion and Protection of Investments,to file their claim for arbitration (Canada–Serbia BIT).3 Sembi, a Cypriot national, relied on the Agreement between Serbia and Montenegro and the Republic of Cyprus on the Reciprocal Promotion and Protection of Investments(Cyprus–Serbia BIT).4 Despite the different nationalities, the investors submitted a joint Request for Arbitration and based their claims on the same facts.5 This case comment...
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