On Bankruptcy and Mediation
By Donald L. Swanson A sale in bankruptcy of assets owned by Nortel Networks Inc. results in a $7.3 billion (yes, that's $7,300,000,000) pot of gold for creditors. Guess what: creditors can't agree on how to divide the pot. So what do creditors do instead? They spend $2 billion from the pot of gold on... Continue Reading →
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 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 →
Detroit’s use of multiple mediators and hundreds of mediation sessions is not surprising. How else could a Court deal with billions of dollars of debt and a multitude of creditors of a City that must keep operating and must meet the daily needs of its hundreds of thousands of inhabitants.
By Donald L. Swanson The Wall Street Journal reports that the Gallup (New Mexico) Diocese filed today (Monday, March 21, 2016) a mediated plan of reorganization in its bankruptcy proceeding. Here are some blurbs from the Wall Street Journal report: The Roman Catholic Diocese of Gallup, N.M., unveiled today "a $22 million reorganization plan, the bulk of... Continue Reading →
The Commercial Bankruptcy Litigation website is publishing an article by Donald L. Swanson, entitled "Proactive Mediation: The Great Innovation of Detroit and Diocese Reorganizations." The article appears on the Commercial Bankruptcy Litigation website at this address: https://www.dailydac.com/commercialbankruptcy/litigation/articles/proactive-mediation-the-great-innovation-of-detroit-and-diocese-reorganizations Follow Don on Twitter by clicking here.
By Donald L. Swanson Bishop George Thomas of Helena, Montana, says in late-February 2016: "A conciliatory approach toward sex-abuse victims helped to minimize the expenses associated with the bankruptcy process." And the expense minimization is huge! The Roman Catholic Diocese of Helena, Montana, files for bankruptcy protection in January of 2014. Prior to filing, the... Continue Reading →
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