Lil Wayne, Birdman: We Want to Settle Our Lawsuit and Our Beef

Lil Wayne and Birdman didn't just party together on New Year's Eve ... they are trying to reconcile after a nasty fight that has turned into a legal war.

We've learned Mack Maine arranged for a phone conference between Wayne and Birdman 2 hours before Drake's party. The 2 discussed their conflict over Young Money and the millions Birdman allegedly owes his protegee.

Our sources say both Wayne and Birdman have strong feelings about burying the hatchet. That said, we're told Wayne will not move to dismiss his lawsuit unless and until they reach an agreement.

As for why they came together, we're told Mack Maine has a lot of influence, especially with Wayne, and opened his mind to a settlement.