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Banks are often embroiled in litigation, whether it’s as a plaintiff trying to recoup monies owed, a witness trying to explain the history leading up to the matter at hand or a defendant facing allegations of wrongdoing. When faced with litigation, banks may feel like they can go it alone or simply rely on their in-house or retainer attorneys alone, but that is not always the best course.
Hire Help
A bank that is involved in litigation should hire a firm skilled at providing banking litigation support so that they can have guidance in their response to and analysis of the matter at hand. These types of specialists are knowledgeable about the various statutes and regulations governing the banking community in addition to various legal procedures like depositions, calculation of damages, testimony and expert witness opinions, so they are ideally situated to help navigate any banking-related litigation. Litigation support is especially important in the banking rule, as there are numerous federal and state agencies, statutes and rules that govern every aspect of the banking business.
Get Sorted
Now that a team consisting of litigation support and attorneys have been assembled, it’s time to start preparing for discovery. Start by coming up with an idea of who the major players are, what questions to ask the opposing party, and what documents to ask the other side to produce in an effort to support the case. Prepare a timeline for interrogatories, depositions, expert witness testimony, subpoenas, and discovery so that both sides can work with the court to craft a workable discovery schedule.
By hiring a litigation support firm that can expertly navigate the world of banking law and being prepared to do the hard but necessary work of discovery, a bank will be well-suited to deal with any disputes that come before it.
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