Dime Bancorp Inc (fka DIMEQ)

[philipmax]

Hi BK,

Generally, mediation is confidential as both parties are required to "put the cards on the table". It is none-binding, so anything said at the hearing is off the record. The mediator's job is to jaw-bone the opponents into some kind of an agreed give-and-take.

The only fulcrum that the mediator posses is his ability to report to the Judge that one side or the other is recalcitrant. The Judge might or might not accept the mediator's suggestions.

In complicated cases (such as the WAMU BK) it might take a week or longer just to hear each side's story...and that takes place after the mediator had already immersed himself in studying the case for a month or more. At that point he may become more familiar with the case than even the Judge herself and his recommendations will carry a lot of weight.