The AIG-Greenberg Mediator on His Role in the New Alternatives (Web)
January 8, 2010
The new Janary 2010 issue of Alternatives to the High Cost of Litigation is out, redesigned for the new decade.
Alternatives starts its 28th year with a new look and a report on the fascinating and surprising new role of the mediator in the settlement of longrunning litigation between AIG and its former CEO, Maurice "Hank" Greenberg.
An SEC filing about the settlement on Thanksgiving indicated that the mediator would be presiding over the settlement details. (Our original story can be found here.)
In effect, neutral Layn Phillips, a partner in the Newport Beach, Calif., office of Irell & Manella, would become an arbitrator--though the settlement agreement doesn't mention arbitration.
The SEC filing adds veteran JAMS neutral Daniel Weinstein, a former California judge, as a second arbitrator for some of the issues.
Phillips can't talk about the case itself, but in an Alternatives' exclusive, he discusses his role:
"[A]n ADR professional always runs the risk of undermining . . . credibility when he or she begins to issue final, binding, and non-appealable decisions in favor of one side or the other."
Find out Phillips will deal with these issues in the January issue, available by subscription or pay per view, here:
Individuals at CPR members can log into this website and get free access to the article, the full January issue, and archives going back to Alternatives' first issue in January 1983. For more information, go here.