Arbitration in Financial Cases
Our arbitration service is for cases concerning the arrangements for children. Whilst Ian Walker is a founding arbitrator on the IFLA Children Arbitration Scheme, Ian is not, certainly at the present time, and arbitrator on the IFLA Financial Arbitration Scheme.
This is not to say that we do not support arbitration as a means of resolving financial cases.
If we are advising and representing clients through our legal practice or if we are assisting both clients on a neutral basis through and mediation practice, we will refer cases onto arbitration where appropriate.
It is part of our philosophy to assist our clients to find a good and realistic (in other words the best outcome) through the best route possible.
Mediation with Solicitor Participation and Arbitration
We are particularly interested in the idea of combining mediation with a solicitor participation and then the case proceeding to arbitration if it cannot be resolved.
When mediation deals with disputes about child arrangements, the underlying problems between parents is often a lack of trust and poor communications. Mediation tends to work as a process through which there are a series of meetings which gets parents talking to each other again and allows them to rebuild trust. A successful mediation can take three – four meetings.
Arbitration can assist by resolving impasses that occur through the journey taken by parents to achieving a resolution. Arbitration can assist in keeping parents in mediation.
The process of resolving financial cases in mediation is different. There is a different process. This is one of gathering together all relevant information – including obtaining valuations, and then putting the parties in a position where they can make good and informed choices.
Financial cases where mediation is used tend to build to a decision making meeting. It can be helpful (and ultimately cheaper) for solicitors to participate in this decision-making meeting. This is because some of the difficult fine detail can more easily be resolved by discussions in real-time, with everyone being present.
If an agreement cannot be reached, it may be that the issues have been considerably narrowed. Parties can still be stuck.
It is in this situation that arbitration can help. A quick decision can be obtained from an arbitrator – avoiding the significant costs that would be incurred by starting a court process.
All of our team understand the benefits of arbitration in this situation. The world of mediation is small, the world of arbitration is even smaller. If arbitration is appropriate there are arbitrators who we trust, and who would be able to offer their services for a reasonable fee and sometimes a fixed price.
If the use of arbitration becomes the best option you can be sure that we will let you know.
You may have questions such as: How to start arbitration? How to file an arbitration claim? What is arbitration in law? What arbitration process UK? What is the cost of arbitration? We have created an FAQ’s page that can help answer those questions related to Arbitration in Financial Cases.