Where receivership or liquidation proceedings are opened against a company, the same
proceedings may be opened against a manager who, although not declared insolvent:
- concealing his scheme, carried out a personal commercial activity either through an
intermediary or under cover of another company;
- disposed of the credit or property of the company as if they belonged to him;
- wrongly pursued in his personal interest, loss-making operations which led to the insolvency
of the company.
The competent court may also order receivership or liquidation proceedings against the manager
who is responsible for all or part of the debts of a company and who fail to pay such debts.
Official translation
Spot-checked
In force from 10 April 1998
Source page 60