In today’s convoluted business world, with its myriad of financial tightrope walking endeavors, there is a true need for professional expert banking witnesses. Here are just some of the reasons why a corporation or elite C-level executive may need such a service.
1. Expert witnesses have more than likely seen a case that is similar to yours before. This great news for the client because this means that the witness can explain the often complicated and convoluted financial situation in a clear and precise manner which is easy for the members of the jury to comprehend and understand. There are complicated dealings, such as a special mention loan, which must be explained in such a way that any layman will be able to understand it.
2. Very often, the use of an expert witness is key to getting a settlement. If the true intent of going into court is to reach a settlement, an expert witness is key to getting this done. Nobody wants to go through years of court proceedings and sometimes just the mere mention of bringing in expert witnesses is enough to convince the other side to settle.
3. Expert witnesses are able to work either side of the courtroom. Contrary to popular belief, expert witnesses are not just for the defense. They can be used by the plaintiff also, to break through what may be inconsistencies or outright falsehoods in the testimony of the defense.
4. Expert witnesses can offer not only testimony, but also offer crucial insight to other aspects of the case. The rest of the legal team can use the knowledge that the expert witness possesses to ascertain different angles on the case which may have not been considered previously.
It is without a doubt that hiring an expert witness for lawsuits involving high-end financial transactions is something that should and must be done. Using an expert witness is one of the only truly concrete ways to explain complicated financial matters and get the jury to understand what exactly the legal team is trying to get across. Your livelihood may depend on it.