Does local law allow for a choice of governing law?
Frequency/market practice: Yes, if it is not contrary to public policy.
What is the common governing law?
Frequency/market practice: In general, Luxembourg law is chosen for Luxembourg targets.
Is litigation or arbitration more common? If arbitration, where?
Frequency/market practice: Litigation is more common and customarily the tendency is to opt for the competence of the courts in Luxembourg City; arbitration is rarely used.
