What the major law firms' 2026 arbitration forecasts agree on, and why the agreement itself is the interesting part. Background Every January, a cluster of major international law firms publish forward-looking notes on arbitration trends for the year ahead. Read individually, each is a piece of client-facing commentary. Read together, the 2026 crop — from Freshfields, Cleary Gottlieb, Baker McKenzie, Charles River Associates, A&O Shearman and Crowell & Moring, among others —

A PCA tribunal declined jurisdiction over Zeph Investments' USD 305 billion claim against Australia. What the award tells us about who qualifies as a foreign investor.

Shell has signalled a treaty claim against Bolivia over an annulled award and criminal proceedings. Why the forum question comes first, and why Bolivia is a hard respondent.