Together with the publishing house C.H. Beck GmbH & Co. KG, the German Institution of Arbitration (DIS) once again organised the Petersberg Arbitration Days in 2026.
The conference took place in the special atmosphere of the Petersberg and this year's main theme was ‘Arbitration & Liability Avoidance in M&A Transactions’. In addition to the spring-like weather, the high-calibre specialist presentations and lively discussions contributed to a particularly successful event.
The conference focused on the question of how liability risks in company acquisitions and sales (M&A) can be reduced and disputes resolved efficiently. Not only were classic aspects of arbitration law discussed, but also overarching developments in the M&A market and their legal consequences were examined. It was precisely this interdisciplinary exchange that opened up new perspectives for practice, academia and case law.
The event kicked off on Friday evening with a keynote speech by Constantin Mang. This was followed on Saturday by a packed conference programme with several panels addressing different aspects of the topic from various perspectives. Dagmar Mundani began by providing an insight into the practice of M&A business in the SME sector and outlined current developments in the market. Despite regulatory and economic challenges, Germany remains an important M&A location, particularly due to the strategic catch-up demand in many industries and the dynamism in the technology sector. Accordingly, many dealmakers are optimistic about the future.
A total of four panels examined the topic of liability avoidance and dispute resolution in M&A transactions:
Thomas Riehm, Antje Baumann and Gregor von Bonin discussed the possibilities and limitations of contractually limiting liability risks. From an arbitration, contract drafting and legal doctrine perspective, topics discussed included the modification of disclosure obligations, the limitation of attributable information providers, restrictions on fraudulent misrepresentation and so-called non-reliance clauses. The discussion highlighted the importance of precise contract drafting and a clear understanding of legal limits. For arbitrators, such proceedings often involve not only the interpretation of individual contractual clauses, but also the interplay between party autonomy and mandatory legal limits.
The second panel, with Andreas Nelle and Urs Weber-Stecher, addressed the question of whether mediation can be a useful alternative or supplement to arbitration in M&A disputes. In particular, they discussed the circumstances in which mediation can contribute to conflict resolution and where its limits lie.
In the third panel, Sören Rettig, Alice Fremuth-Wolf and Dieter A. Hofmann discussed the role that insurance and financing solutions can play in limiting one's own liability risks. The focus was in particular on W&I insurance (warranty & indemnity) and D&O insurance (directors & officers) and their practical significance in the context of M&A transactions.
Another panel with Thomas Winter, Robert Papst and Christian W. Konrad dealt with liability proceedings arising from M&A transactions before state courts. Among other things, the panel discussed the role that the newly emerging commercial courts could play in such proceedings in the future.
The Petersberg Arbitration Days 2026 once again provided an excellent platform for professional exchange between practitioners, academics and the judiciary.
The open culture of discussion and the opportunity to gain new perspectives on current challenges in the field of M&A transactions and arbitration proceedings across disciplinary boundaries were particularly appreciated.
Special thanks go to the organisers, Jörg Risse and Rouven F. Bodenheimer, who once again prepared and conducted the conference with great commitment.
Thomas Klich