Keep business disputes out of court - and save thousands. (pounds sterling)

A director of a service company issued an unauthorized cheque on his sole signature. The bank cleared it, ignoring the agreed bank mandate which demanded two signatures. The bank refused to refund the company the [pounds]70,000 involved, claiming extenuating circumstances. The company considered High Court proceedings with its solicitors but was horrified at the high cost and the amount of management time likely to be involved over months, if not years, of litigation. The company then "discovered" mediation and persuaded the bank to agree to have the dispute heard by an accredited mediator. Within seven hours, both parties - with the assistance of the mediator - had come to a …