Every natural person referred to in Article 227 above who, in case of insolvency, is guilty where
he has:
1) Hidden his accounts;
2) Embezzled or concealed all or part of his assets;
3) fraudulently declared himself liable for sums not owed either in his accounting records or
by public acts or commitments under private deed or in his balance sheet;
4) engaged in an independent professional, civil, commercial, handicraft, or agricultural
activity in violation of a ban provided for in one Uniform act or in a statutory or
regulatory provision of a State party;
5) after insolvency, has paid a creditor to the detriment of the bodyof creditors;
6) Has granted special benefits to a creditor because of his vote during the deliberations of
the body of creditors or has entered into a special agreement with a creditor stipulating that
the latter shall enjoy a benefit to be borne by the assets of the debtor with effect from the
date of the decision to initiate pro ceedings.
Shall also be guilty of fraudulent bankruptcy, any natural person referred to in Article 227 above
who, during the preventive settlement, reorganization or assets liquidations proceedings, has:
1) In bad faith, presented or permitted the presentation of an income statement, a balance
sheet, a statement of claims and debts, or a statement of preferential claims and securities
that is inexact and incomplete;
2) Without the authorization of the president of the competent court, performed one of the
acts prohibited in Article 11above.
Unofficial translation
Spot-checked
In force from 10 September 2015
Source page 119