Bankruptcy Alternative Dispute Resolution

Bankruptcy Alternative Dispute Resolution (ADR) refers to methods outside of traditional court processes used to resolve disputes related to bankruptcy cases. This includes techniques like mediation and arbitration, where a neutral third party helps facilitate a resolution. ADR can be faster and less costly than going to court, making it appealing for debtors, creditors, and other stakeholders involved in bankruptcy proceedings. The goal is to reach a mutually acceptable agreement, reducing the stress and time often associated with litigation while ensuring that the rights and interests of all parties are considered.