Mr. McElcheran offers “Plan Mediation” as a unique service for businesses in financial distress.
Plan Mediation is a process of mediated financial restructuring which can be implemented out of court or in conjunction with formal, court based restructuring proceedings.
Plan Mediation uses a specially designed Mediation Agreement at the core of a solution based approach to business restructuring.
A revitalizing transaction that positions a viable but troubled business for future success cannot be won in a court, it can only be negotiated. Plan Mediation facilitates the multi-party negotiations that are necessary to build stakeholder consensus for a commercial solution that can be implemented through agreement among the debtor and its key stakeholders or through a pre-negotiated plan of arrangement that can be efficiently implemented through traditional court based restructuring proceedings.
For a detailed description of Plan Mediation, please see The Case for Plan Mediation in Canada in the Annual Review of Insolvency Law, 2014, edited by Dr. Janis P. Sarra and Her Honour Justice Barbara Romaine.