In a case closely watched by banking lawyers across the state, the Supreme Court of Georgia has opened the door for bank directors and executives in the state to be held personally liable for a failed bank’s losses if they are found to have neglected their corporate duties.
The ruling gives new life to a federal suit filed by the Federal Deposit Insurance Corp., which has sought to claw back millions of dollars from the directors and corporate officers who oversaw the Buckhead Community Bank before its 2009 collapse.
