As Jan Paulsson's second three-year term as President of the LCIA draws to a close, it has been announced that Professor William ("Rusty") W Park will succeed him to the post in July 2010.
In addition to his role as Professor of Law at Boston University, Professor Park was elected to the Panel of Arbitrators of the International Centre for Settlement of Investment Disputes (ICSID) in 2008, has extensive experience sitting as arbitrator in LCIA, ICC, AAA, ICSID and other international proceedings, and has published widely on international arbitration and the legal aspects of business and finance.
Professor Park is not new to the LCIA Court, having served as one of seven Vice Presidents for some time along with (in the Court's current membership) V V Veeder QC, Dr Klaus Sachs, Paul Hannon, Jose Astigarraga, Zia Mody and Teresa Giovannini.
The LCIA Court, which comprises thirty-five members who are selected to be representative of the world's major trading areas, is the final authority for the proper application of the LCIA Rules. Its functions include acting as appointing authority in respect of cases administered by the LCIA, reviewing the LCIA Rules from time to time and promoting the objectives of the LCIA and of international commercial arbitration generally. In practice, most of the day-to-day functions of the LCIA Court, such as making appointments or resolving challenges to arbitrators, are performed in the name of the Court by the President, a Vice President or by a division of 3 or 5 members of the Court chaired by the President or a Vice President.
It is expected that a new Vice President to replace Professor Park will be announced next year. As outgoing President, Jan Paulsson will continue to be invited to attend and vote at Court meetings in an honorary capacity for as long as he wishes. During his tenure as President, the LCIA has seen unprecedented growth in the number of cases referred to it and has established centres in Dubai and New Delhi. This growth is likely to continue under Professor Park's leadership.