Commercial Mediation News: Banking Crisis Fallout
Reports this week confirm that the Royal Bank of Scotland has agreed to mediate settlements with up to thirty-four thousand institutional and private investors who lost hundreds of millions of pounds during the financial crisis in 2008.
The claim surrounds whether RBS set out properly its financial position during a rights issue which occurred mid-financial crisis. Over 30 mediators are involved on behalf of the investors with the banks general counsel taking the lead role for RBS.
RBS wants to avoid the costs of court action and no doubt the media fall out and further stain on its reputation which public hearings would allow.
A key benefit of mediation, and one that a good mediator will regularly remind you of, is that discussions and offers made in a mediation remain confidential and are off the record (“without prejudice” should you want the legal terminology), so what you say cannot be used in court.
Mediation is, therefore, the ideal way of avoiding any discomfort or embarrassment which public scrutiny could bring to you or your business.
Northwest Mediation goes as far as to confirm before any mediation commences that the notes taken will be destroyed immediately after the conclusion of the mediation, so you can be sure no one outside of the parties taking part knows what was discussed and how the agreement was reached.
If you want to have a confidential discussion about how mediation may help you or your business call Ed Johnson on 07931318347 or email at email@example.com