In Germany, arbitral tribunals decide most disputes arising from M&A transactions. Parties often are concerned that German state courts are not experienced and therefore in no good position to decide complex and high-value M&A disputes. Parties favor arbitration because it allows them to choose arbitrators who have either experience in negotiating complex transactional agreements or in handling M&A disputes. The downside of this preference for arbitration over litigation is that not much case law is…