The Supreme Court of Georgia is considering whether a Georgia law protects the corporate officers and former executives of a Buckhead bank that failed under their watch from personal liability for the bank’s losses even if they neglected their corporate duties.
The justices heard oral arguments Monday because U.S. District Judge Thomas Thrash sought their interpretation of the state’s business judgment rule and how it may apply to bank directors and officers in a suit brought by the FDIC against them.
