Michael attended a District Court mediation last week.
We represented one elderly defendant.
The plaintiff had a somewhat ambit claim seeking $1.8 million in damages plus costs.
The other defendant was seeking a 100% indemnity from our client, which I believe they would have got, if liability were proved. While liability was in doubt, it was going to be very difficult to defend.
We ended up settling for $200k inclusive of costs, with our client contributing 70%. On top of that, the other defendant agreed to lend our client the money for the rest of his life, at 3.25% p.a., so that it will only be payable out of our client’s estate.
All in all, it was a good result for your client.
For assistance with dispute resolution, see Michael Paterson & AssociatesTags: dispute resolution, district court, mediation, settle