Banking, Insurance and Financial Disputes
EMS provides mediation services for the banking, financial and insurance sectors.
EMS has established a joint venture Debt Management Mediation with Crannagh & Co which will provide Debt Management Mediation to borrowers and lenders who may be experiencing difficulties with repayments and security. The Debt Management Mediation Model enables the parties to negotiate their own solution within a safe space and to come to a legally binding agreement.
This new model of mediation has been specifically devised to enable the parties to come to a quick and cost effective solution.
EMS’s independent status and expertise in business immediately creates a neutral and expert platform for parties to mediate their dispute; facilitating resolution. The confidential and binding nature of mediation is particularly valued in finding dispute resolution involving consumers or business concerns with commercial banks, financial institutions and insurance houses.
Mediation is chosen over arbitration and litigation for a number of factors:
- Confidentiality
- The usually sensitive nature of financial transactions favours the undisclosed confidentiality of mediation
- Quick resolution
- Mediation can be scheduled within a short time and the process itself can be very short
- Flexibility
- The lack of formal structure and procedures enables disputes to come to the resolution point quickly.
- Balance of power
- Mediation creates an even platform for agreed resolution
- Avoiding litigation
- Mediation can find solutions which are not possible in adversarial proceedings such as arbitration and litigation
- On-going Relationship
- Mediation provides the opportunity to preserve the relationship despite the dispute.
- Prevention
- By including mediation clauses in financial, banking and insurance contracts and committing to mediation as a first step in dispute resolution, institutions offer clients a means of having recourse strengthening the commitment to client relationships
Types of Disputes
- Debt collection
- Breach of contract
- Guarantor disputes
- Professional negligence
- Contributory negligence
- Liability issues
- Personal injuries
- Disputes on policies
- Assessment of damages
- Banking contracts
- Liquidations