On 6 May 2015, Georgian Supreme Court decided that shareholders and directors of a Limited Liability Company can be held jointly and personally liable for the tax obligations of the company. This Decision lays ground for the development of corporate veil-piercing doctrine in Georgia and at the same time extends creditors' right to have recourse to directors if the damage was incurred due to the breach of fiduciary duties.

doi.org/10.1515/ecfr-2016-0453, hdl.handle.net/1765/109581
European Company and Financial Law Review

Narmania, G. (Giorgi). (2016). Georgian Supreme Court redefines personal liability of shareholders and directors. In European Company and Financial Law Review (Vol. 13, pp. 453–466). doi:10.1515/ecfr-2016-0453