A federal appeals court is mulling whether Georgia law shields the corporate officers of a failed Georgia bank—including a current state senator and a former candidate for lieutenant governor—from personal liability for the bank’s losses even if they neglected their corporate duties.
The U.S. Court of Appeals for the Eleventh Circuit heard arguments Wednesday by the Federal Deposit Insurance Corp. that the 2012 ruling by U.S. District Judge Steve Jones of the Northern District of Georgia should be overturned.
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