Federal Deposit Insurance Corporation v. R. Charles Loudermilk, Sr.

Summary

The court held that Georgia's apportionment statute applies to negligence and gross-negligence claims seeking purely pecuniary losses because injury to property includes injuries to intangible property. It also held that the statute did not abrogate traditional common-law concerted action, under which fault is legally imputed and joint and several liability remains available, but declined to decide whether the bank directors' conduct satisfied that doctrine. The court answered the first two certified questions and declined to answer the third because doing so would require a record-intensive evaluation of the pleadings, evidence, and jury instructions.