On Bankruptcy and Mediation
By Donald L. Swanson I’m in a mediation session for a state court commercial case. The parties have been at it for a couple years. And everyone’s expectation is that this will be a one-and-done session. One of the first things Plaintiff’s president says to me is, “Can you believe we’ve paid over [$xxx] in... Continue Reading →
"Do not go out hastily to argue your case; Otherwise, what will you do in the end, When your neighbor puts you to shame?" --Prov. 25:8 By: Donald L. Swanson It now seems obvious that the Archdiocese of Milwaukee overplays its hand after receiving a favorable ruling from the U.S. District Court in Milwaukee. Here... Continue Reading →
By: Donald L. Swanson Celebrity brushes with the law always add spice to otherwise hum-drum subjects. Who would have ever predicted, for example, that someone like Anna Nicole Smith (fka Vickie Lynn Marshall) could cause havoc within the bankruptcy system? Then there is Willie Nelson and his IRS battles. Or how about John Fogerty’s long... Continue Reading →
Action Item. All participants in a bankruptcy mediation need to understand, in advance, that a discovery vacuum, (1) might require a recess in the mediation session until the discovery vacuum can be filled, or (2) needs to be identified and addressed in pre-session communications..
By Donald L. Swanson I’m mediating a bankruptcy valuation dispute between a bank secured creditor and debtor. The asset is a building in need of repair. The dispute has been pending for a short while, and a hearing on declaration evidence is to occur soon. During the mediation, the banker says: “We need to see... Continue Reading →
By: Donald L. Swanson Sometimes “a slugfest” must occur “before people get serious” about settlement possibilities. This is definitely true in the Archdiocese of Milwaukee bankruptcy. So says James I. Stang, attorney for the Official Creditors Committee in that case—and in at least a half-dozen additional cases of a similar nature. The Archdiocese of Milwaukee "slugfest"... Continue Reading →
By Donald L. Swanson Let’s start by acknowledging that Argentina’s road from a $100 billion debt default in 2002 to a final mediated resolution in 2016 has been long and complex and difficult. The road began during an economic crisis, reached partial resolutions in 2005 and 2010, and achieved a final mediated-resolution in 2016. During... Continue Reading →
Action Item. At every significant development in a bankruptcy case, beginning at its earliest stages, parties should consider whether a mediation process might be helpful immediately in resolving remaining disputes. #bankruptcy #mediation #bankruptcymediation
By Donald L. Swanson "You can't fight every battle all the time," and "You have to get as many settlements as you can—as fast as you can." These are truisms for debtor's bankruptcy counsel. In a Chapter 11 case, the debtor's best-interest is to identify resolvable disputes promptly, get each of them settled as quickly... Continue Reading →
By: Donald L. Swanson The distressed debtor is the Republic of Argentina. Ok .. . so not everyone gets to handle a case of this magnitude. But, as for $8 billion in cash settlement payments and $100 billion in total defaults . . . it's merely a matter of locating the decimal point in a... Continue Reading →
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