Why it matters -
Bank officers may be liable in a lawsuit brought by the Federal Deposit Insurance Corp. (FDIC) while the directors escaped liability, in a new ruling from the Fourth Circuit Court of Appeals interpreting...more
9/23/2015
/ Affidavits ,
Appeals ,
Articles of Incorporation ,
Banking Sector ,
Board of Directors ,
Breach of Duty ,
Business Judgment Rule ,
Corporate Officers ,
Enforcement Actions ,
Exculpatory Clauses ,
Expert Witness ,
FDIC ,
Fiduciary Duty ,
Gross Negligence ,
Loans ,
Negligence ,
Personal Liability ,
Rebuttable Presumptions ,
Reversal ,
Summary Judgment
Almost all cases brought by the FDIC in the last few years against former directors and officers of failed banks have been resolved by negotiated settlements. However, in a recent decision, a federal court judge in North...more
In the context of Federal Deposit Insurance Corporation (FDIC) litigation against the former directors and officers of a failed bank, the Georgia Supreme Court has upheld the validity of the business judgment rule in the...more