Mediation is a very valuable aspect of alternative dispute resolution for anyone involved in legal disputes and this includes contentious insolvency appointments or claims brought under the Insolvency Act 1986.
Mediation is a timely and cost effective way of settling a legal dispute that typically avoids the expense, delay and uncertainty of legal action. If mediation is not considered by those involved in legal dispute this could lead to a loss in the recovery of costs even if a legal action is successful.
The reduced time involved in a mediation, resulting in decreased time costs and solicitors' fees, should be favourable for insolvency practitioners bringing legal action in respect of an insolvency appointment. A mediation could lead to higher realisations and lower costs, resulting in increased realisations and dividends for unsecured creditors. Office holding insolvency practitioners work for the benefit of creditors and mediation should always be considered as a time and cost effective option for resolving legal action.
Mediators are skilled and qualified professionals, usually with additional senior professional and commercial experience. Caroline Clark qualified as a CEDR approved mediator in 2015 and has experience of a number of mediations involving legal and contractual disputes. Caroline's unique combination of insolvency, business and mediation experience and qualifications mean that she can assist those involved in legal disputes to come to a timely agreement that avoids the cost and uncertainty of legal action and enables everyone to move on.