Nearly two years since the credit crunch began, lawyers are still divided over whether a surge in disputes is coming. But, finds Alex Aldridge, many firms see opportunity

Over the last few months, international law firms have been gearing up for the long-awaited upturn in litigation, with a string of office openings and major hires. With the London Court of International Arbitration (LCIA) gaining in popularity in recent years, it is no surprise that the UK capital has been at the forefront of the action, alongside other major arbitration centres like New York and Paris. There have also been moves to bulk up on dispute resolution expertise in Asia and the Middle East.