Simon Cowell's baby mama Lauren Silverman and her ex won't be settling any future disputes through overpaid lawyers -- they've enlisted a trusted mutual friend to hash out their differences ... a man who also happens to be a famous BILLIONAIRE.
According to the divorce settlement, Lauren and Andrew Silverman have named Sir Philip Green as a mediator. Green is the current CEO of the Arcadia Group, which owns the likes of Topshop, and is worth a reported $5.3 billion.
Under the settlement, Green will be one of two mediators (the other being attorney Martin Edelman) for the next 5 years.
We're told the reason Green was named a mediator is because Lauren, Andrew, and Simon each consider him to be a close friend -- and feel comfortable using Green as a neutral go-between.
How do they all know each other? We're told Green introduced Simon to Andrew and Lauren years ago (while Andrew and Lauren were still together) and all four of them hit it off.