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November 17, 2022

Alternative Dispute Resolution (ADR): Considerations for Real Estate Businesses in an Unpredictable Market

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Unpredictable market conditions require innovative solutions to tackle business challenges. Although the real estate industry is fast-paced and global, it is a small world all the same. Due to the current economic climate, parties that have collaborated amicably and successfully for decades may suddenly be faced with issues that put pressure on their relationship and jeopardize the mutual trust carefully built over years. Identifying these choke points timely and addressing them by applying ADR solutions may prevent lengthy legal proceedings and create an efficient and positive outcome for both parties, solving the issue pragmatically and enabling continuation of the collaboration.

ADR includes various forms of alternative dispute resolution, such as:

  • Non-binding advice: Advice by specialist advisors;
    Key characteristics: Not binding, usually confidential, advisors take position 
  • Arbitration: Decision by specialist arbitrators acting like judges;
    Key characteristics: Binding, not necessarily confidential, arbiters take position
  • Mediation: Structured, interactive solution-focused negotiation process, led by an impartial mediator;
    Key characteristics: Not binding, confidential, mediator does not take position

The RE-STRUC team at Greenberg Traurig comprises professionals trained in ADR processes, including RICS accredited mediation services. The team has deep experience in orchestrating ADR procedures and assisting parties involved in arbitration, mediation and non-binding advice procedures, either as a neutral advisor/mediator/arbitrator, or as advisor to one of the parties.

ALM expressly disclaims any express or implied warranty regarding the OnPractice Content, including any implied warranty that the OnPractice Content is accurate, has been corrected or is otherwise free from errors.

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