There are many details to sort out when you’re in the midst of a business bankruptcy in Fort Lauderdale as an attorney, and you may have questions about the role of the mediator. Bear in mind that the mediator doesn’t actually hand down any decisions, which makes this a different process than litigation or arbitration. The mediator is instead appointed as a neutral third party who will try to help the parties and their counsel find a consensual resolution to disputed bankruptcy issues so that neither party has to go through litigation.
The mediator’s role is to gain an understanding of the issues in the case, so you can do yourself a favor by being as organized as possible. If this means spending a few days making sure that your client has the right materials regarding the company and its outstanding debts or other material issues, it’s worth your time to collect them rather than have a missing document hold up a case so that you have to schedule another mediation session in Fort Lauderdale.
When you meet in business bankruptcy mediation, you might be surprised at how quickly the process unfolds. This is usually because any parties willing to meet in mediation are likely invested in resolving the issue as quickly as possible, so they will come to the table prepared to make compromises. Also, the need to resolve bankruptcy issues quickly coupled with the frequent lack of sufficient resources to make parties whole often renders the slower and more expensive litigation process a less attractive alternative to litigation in bankruptcy cases.
Remember that mediation, when handled by an experienced Fort Lauderdale business bankruptcy mediator, can be beneficial for both sides in terms of a cost and time savings. Since mediation is confidential and more flexible than litigation, choosing a talented and qualified mediator is a crucial first step for your business bankruptcy mediation. When you want to keep your client’s business bankruptcy out of court and save time, investigate an alternative dispute resolution forum that is focused on quicker results: mediation.