My question involves expert witness practice in the state of: New York.
Hi, I have 29 years of experience in my industry, have recently retired and have been asked to serve as an expert witness (in the area of business management and strategy) in a MAJOR bankruptcy proceedings.
Since this is my first experience and given I am risk adverse and do not wish to expose my retirement funds to any liability, I am seeking your guidance around what sort of liability exposures there are for me as an expert witness? I would be working for an Expert firm on a contract basis (not as an employee), who is in turn is working for the real client.
If there is liability exposure, what sort of measures should I take to protect myself? Indemnification from both the Expert Firm AND client? Do I need to be concerned about potential suits from the opposing party or potentially just the Expert Firm and client if any? Appreciate any practical help and guidance you can give.