Rusty Park to chair ICSID tribunal in claim against Romania
Source: Global Arbitration Review
US arbitrator William W Park is to chair an International Centre for Settlement of Investment Disputes tribunal considering a claim by two Turkish businessmen against Romania's privatisation agency. Park, who is president of the London Court of International Arbitration, will hear the case alongside Swiss practitioner Nicolas Herzog, a partner at Herzog & Gozzi in Zurich, and French academic Brigitte Stern.
The panel was formed on 1 November, almost a year after the claim was first filed. Turkish investors Ömer Dede and Serdar Elhüseyni are seeking damages over the alleged failure of the Romanian authorities to comply with a privatisation agreement for an agricultural machinery manufacturer in the south-eastern city of Medgidia.