The Georgia Supreme Court will hear three cases on Monday, including a reprise of arguments over liability for failed banks.
The first case in Monday’s 10 a.m. session asks the justices whether officers and directors of failed Georgia banks can be held individually liable under Georgia law if they are shown to have been ordinarily negligent or breached a fiduciary duty. The question was certified to the court by the U.S. Court of Appeals for the Eleventh Circuit, which said two decisions by the Georgia Court of Appeals, which arguably shield bank directors and officers from liability except in cases of fraud or bad faith, may contradict the language of the relevant Georgia statute.
