Ground rules
These rules govern every matter on the Settlement Desk and every membership on the Claims Desk. They are written so that trying Wireroom costs a party nothing: no disclosure, no commitment and no record if it does not work out.
Five rules for every matter
- 1
Confidentiality
Your submissions, including the figure you would accept, are never shown to the other side. Every exchange is treated as a confidential settlement communication. If the figures do not overlap, both are deleted and no record of them is kept.
- 2
Your counsel directs the process
Each party keeps its own lawyer throughout. Wireroom supplies valuations, cost estimates and structure. It does not give legal advice or recommend a position to either side.
- 3
Nothing is binding until signed
A match produces a settlement figure, not a contract. The parties’ lawyers draft and sign the agreement, and until they do, nothing on the platform creates an obligation.
- 4
Either side may withdraw
A party can leave at any stage, for any reason, at no cost. The other side is not told why or how far the process had gone.
- 5
Fees only on settlement
Screening is free. Wireroom charges its fee only when a case settles, so it has no reason to draw a dispute out.
Rules for members
Public sources
Asset Marketplace listings are compiled from court dockets and county recorder filings. Each listing links to or cites the documents it was drawn from.
Verify before you act
Sale dates move and terms change. Members are responsible for confirming every detail with the trustee, the court record or their own counsel before bidding or buying.
Documented claim transfers
Claim trades close with a written assignment, and the transfer is noticed on the case docket under Bankruptcy Rule 3001(e).
Information, not advice
Wireroom does not advise anyone on whether to bid, buy or sell, and it does not act for either side of a trade.
Wireroom is a neutral platform.
It is not a law firm and does not represent any party. Using Wireroom does not create an attorney-client relationship with anyone.