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Publications / Seminars
Related Articles: Bankruptcy
Arbitration and Mediation in Bankruptcy
Alternative Dispute Resolution is expanding in many areas
of the law, including the Bankruptcy Courts. With the tremendous
number of bankruptcy filings in the early 1990's, the Bankruptcy
Courts have become overloaded with lawsuits within the context
of a bankruptcy. As a result, bankruptcy estates are becoming
the subject of expensive litigation. This can be devastating
to both debtors and creditors who are fighting for limited
assets. Litigation in bankruptcy can diminish bankruptcy estate
resources. A number of attorneys and judges in Virginia and
Washington, D.C. recognized the need for resolving disputes
quickly and inexpensively in the bankruptcy setting and have
very recently created an organization called BAMS (Bankruptcy
Arbitration and Mediation Services).
BAMS provides parties to bankruptcy related disputes an impartial,
confidential, less expensive, accelerated alternative to litigation.
The Arbitrators and Mediators are former Trustees, former
Judges and Bankruptcy attorneys. The service provides mediation,
mini-trials and arbitration. BAMS is a non-profit organization
designed to save money, save time, restore control to the
parties, narrow and reduce issues, preserve relationships
and keep reputations intact. While only recently created,
BAMS is already proving to be a successful alternative to
traditional litigation in bankruptcy.
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