Alternate Dispute Resolution (ADR) offers all the advantages of the federal judicial system and then some. Along with fixed rules and the possibility of appeal, it allows for speed, confidentiality, cost efficiency, customized resolutions, and enforceability. These make ADR a good arbitration option for a whole range of complex commercial cases like securities, professional malpractice, patent litigation, personal injury litigation and bankruptcy mediation.
Bankruptcy mediation works for both parties
As of February 2015, bankruptcy filings averaged 3,422 daily. More than half – 62% of the total – personal bankruptcies are due to medical expenses. And the largest number of business bankruptcies are declared by small to medium enterprises with 50 or less employees. About 90% of all Chapter 11 bankruptcies are due to businesses with assets and liabilities less than $10 million and annual revenues of less than $10 million.
Bankruptcy mediation for personal or business bankruptcy provides neutral, third-party mediation to help resolve the dispute. It has certain advantages for both parties, being voluntary, confidential, cost effective and enforceable. The resolution can take into account the interests of both parties and arrive at a resolution that seems fair to both sides. Giving both
parties more control over the outcome, it avoids the stringencies and hardship associated with winner-take-all court rulings.
ADR advantages for commercial cases
If your business is looking at the possibility of alternate dispute resolution for a complex commercial case, an ADR company offers many advantages. Their services include the following:
- Mock trials
- Expert testimony
- Special master
- Standby mediation
- Fixed price arbitration
With a roster of experienced judges, you will have years of expertise in all areas of law at your disposal. An ADR company can help you prepare with mock trials, investigations and expert panels to put forward the best arguments for your case. ADR offers a speedy, cost effective and confidential alternative to a long-drawn out process in federal courts.