I'm really hoping that my own experience isn't going to be this bad. I'm owed close to $20k from a client who's so far failed to pay, and I'm working on taking them to arbitration (as per the contract) while looking for other work. Luckily, I brought it up to my startup's lawyer and he offered to take it on, so at least that part will be simple. I'm really hoping that arbitration will be as quick as I've been told it is, but as OP found out, nothing is ever that easy.

I feel for anyone in a similar position; it always sucks to be out a decent chunk of money, waiting for some third party to decide you really do deserve it. I don't know about anyone else, but I'm getting my money in escrow from now on...