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Anon of 1:56 and others are not alone in getting this wrong.
(1) lawyers have not lost the ability to negotiate - transaction lawyers do so all the time. What some litigators appear to have lost is the will. Praise be for the enlightened, who still put the client first.
(2) Mediation rarely needs to cost 5 figures. A good commercial mediator plus a partner-level solicitor for each side are readily available (at provincial rates anyway) for well under £10K in all. Shop around!
(3) I'm not aware of any sanctions for failing to settle. The costs sanctions are for refusing to try.
(4) the more lawyers whinge about measures to reduce the cost of dispute resolution, the more the paying public will gag on the stench of self-interest.

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