On July 22, 2019, the U.S. Court of Appeals for the Eleventh Circuit dealt another blow to bank directors, upholding the award of damages to the FDIC in the case FDIC v. Loudermilk, which involved the former directors of Buckhead Community Bank. The case was perhaps best known for defining Georgia’s business judgment rule, at least until the Georgia General Assembly reacted by defining the standard of liability for directors and officers in a manner more consistent with prior expectations.
Writing in the May issue of BankDirector.com, FKHF Managing Partner, Chet Fenimore discusses potential pitfalls in acquiring an S-Corporation and why thorough pre-sale due diligence is so critical.
HOW SUBCHAPTER S ISSUES COULD SNAG A SALE
BY: CHET …
Writing for the Independent Bankers Association of Texas (IBAT), attorney Brent Standefer discusses best practices when a bank shareholder announces his or her impending departure, and ensuring that liquidity is in place when it happens.
The Firm is pleased to announce that partner, Geoffrey Kay, has published an in-depth article regarding changes in how private banks interact with the Fed on bankdirector.com.
Full article below:
How The Fed Changed The Game for Private …