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Home / Opinion Digests / Business Law / EDVA: Officers personally liable for $1.2M in business loans (access required)

EDVA: Officers personally liable for $1.2M in business loans (access required)

Notwithstanding his claims that bank representatives misled him, the president of a Richmond-based energy company signed loan agreements and guarantees that clearly stated his personal liability for his company’s obligations. Background In 2009, Defendants Dominion Energy Management Inc. and its president, Gerald Mwangi, jointly as borrowers, entered into a Commercial Loan Agreement with Plaintiff PNC Bank, wherein ...