It is a conference scheduled by the court where they try to see if the parties can settle. You need to filed a settlement brief at least a week before the hearing. The settlement brief outlines your case, your client's weaknesses and amount that you are willing to settle for, if any.
The above is not legal advice. It is an illustration of options that can be used in certain situations. I have not examined all of your facts, if I did I might provide a different response.