You must have gotten your law degree from that EDMC law school. I guess third party indemnity and risk was just too much for ya, eh?
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That means nothing, just a formality before heading to court. EDMC will not back down and mediation requires each side to give in half way. If EDMC defaulted on just 1 billion, how could it settle for roughly half of 11 billion damages? Besides, even if they could they wont settle. Their idea of a settlement is you drop all damages and we admit no wrong doing.