Ken: Happy to oblige re percentage of cases that settle, but with these caveats: I graduated from law school in 1971 and retired on Dec 31, 2001; during those 30 years I tried to approximately 40 jury trials to verdict, but never handled an arbitration case. During the 1990s, approximately 95% of all civil litigation lawsuits settled prior to verdict. My understanding from colleagues at my old firm is that the 95% figure has increased over the last 20 years. Although lacking in personal experience re arbitration cases, I would be surprised if those cases settled less often than civil litigation.

All of the above suggests to me that the likelihood of an arbitration settlement here is at least 95%, but it's worth remembering that the unique facts of the dispute, the economic circumstances of the parties, and the personalities of the decision makers will ultimately drive the decision whether or not to settle in any particular case. And it's also worth remembering that when it comes to anticipating CYDY outcomes, I have been wrong almost every time I have ventured down those paths.

To Ken and all -- Merry Christmas and, hopefully, a Happy New Year.

Jake