2018
Rand Investments and others v. Serbia Rand Investments Ltd., Allison Ruth Rand, Kathleen Elizabeth Rand and others v. Republic of Serbia (ICSID Case No. ARB/18/8)
Serbia
Canada

Cyprus
Indirect majority shareholding in BD Agro AD (“BD Agro”), a dairy farm located on the outskirts of Belgrade, Serbia.
Claims arising out of a state agency’s 2015 termination of an agreement for the privatization of BD Agro concluded with a Serbian buyer after a public auction in 2005. According to the claimants, the termination involved the subsequent seizure of majority shares in BD Agro held by the Serbian buyer, which were beneficially owned by the claimants. The state agency’s actions allegedly led to BD Agro’s bankruptcy in 2016.
Data not available
Data not available
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Kaufmann-Kohler, G.
Vasani, B. S.
Kohen, M. G.
Decided in favour of investor
Data not available
14.60 mln EUR (15.90 mln USD)
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Direct expropriation
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
None