The competent court may pronounce the personal bankruptcy of top executives who:
1) Have committed serious misconduct other than those referred to in Article 197 above
illustrating a manifest incompetence;
2) Have not declared, within a period of thirty days, the insolvency of the legal entity;
3) Have not paid their share of the company's debts for which they are liable.
Unofficial translation
Spot-checked
In force from 10 September 2015
Source page 109