Mediation: Canada Debt .ca defines Mediation

Bankruptcy Term Mediation

<<< Back

Canada Debt has the definition to the bankruptcy and debt term Mediation. Finding answers to terms such as Mediation can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Mediation in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Mediation' is used as follows:

An alternate dispute mechanism whereby the mediator acts as a facilitator assisting the parties in coming to a mutually agreed settlement. Under the Bankruptcy and Insolvency Act, mediation can be used, for example, if a creditor or the Trustee opposes a bankrupt's discharge.