Oct
06

Lawsuit Hits Beach First’s Directors and Senior Management

By
– The Sun News

A bankruptcy trustee has filed a lawsuit against Beach First National Bank’s directors, saying their reckless mismanagement of the Myrtle Beach-based bank led to its failure in April.

Michelle Vieira – trustee for the bankruptcy estate of Beach First National Bancshares, the bank’s parent company – wants the directors and Walt Standish, the bank’s former chief executive, to pay unspecified actual and punitive damages stemming from their negligence and breach of fiduciary duty, according to a complaint filed last week.

Vieira declined to comment on the lawsuit, saying it is her policy not to talk about pending cases.

ARTICLE SHORTENED DUE TO LENGTH….

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    Categories : Myrtle Beach

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