Andrews Corporate Officers and Directors Liability Litigation Reporter
January 29, 2001
Copyright (c) 2001 Andrews Publications
MICH. SUPREME COURT SAYS PRESIDENT IS NOT LIABLE FOR CORPORATE DEFAULT
Bandit Indus. v. Hobbs Int'l
The Michigan Supreme Court has rejected a creditor's attempt to hold a corporate president personally liable as a guarantor, because the creditor did not prove that the officer expressly intended to be responsible for the company's default. Bandit...