Hi there loginuser.
I've been to Mediation hearings. They differ from Arbitration hearings.
Generally the mediator tried to get the parties together on the issues. The parties can state their opinions and positions and the mediator will give them options to settle in an amicable setting.
Many times the personalities are so estranged that they agree to nothing. But more often the Mediator tells the parties of the negative possibilities that may ensue if they can't agree.
Keep in mind the the BK judge has enormous powers that exceed most judicial parameters of other Courts. The Mediator will use this power to sway the parties so that the judge can get on with the BK.
Yet, if they can't agree, there is no choice but to bring it back to the Judge.
Anyway, the agreement has to come in front of the
Judge to be finalized.
This is just my solitary opinion on the subject.
In our case the $ award is already decided. It now comes down to whether Steinberg gets to be the lead Class Action Attorney (Ka-Ching in his pocket from the Estate) and whether he will settle for the 347M without Gross-up and interest. Rosen has to decide whether its worth it to settle now and stop those beautiful legal bonanzas of 30M/mo.
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