2016-07-01
Georgian Supreme Court redefines personal liability of shareholders and directors
Publication
Publication
European Company and Financial Law Review , Volume 13 - Issue 2 p. 453- 466
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.
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| doi.org/10.1515/ecfr-2016-0453, hdl.handle.net/1765/109581 | |
| European Company and Financial Law Review | |
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Narmania, G. (Giorgi). (2016). Georgian Supreme Court redefines personal liability of shareholders and directors. European Company and Financial Law Review, 13(2), 453–466.https://doi.org/10.1515/ecfr-2016-0453 |
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