In case of reorganization or assets liquidation of a legal entity, any top executive who, without
being insolvent, has:
-
engaged in an independent professional, civilian, commercial, handicrafts or agricultural
activity either through an intermediary or under cover of the legal entity concealing his
dealings;
-
used the creditor assets of the legal entity as if they were his own;
-
Abusively operated, in his personal interest, a failing business which could but lead to the
insolvency of the legal entity.
The competent court may also pronounce reorganization or assets liquidation of the top
executives who are liable for all or part of the debts of a legal entity and who fail to pay such
debts.
Unofficial translation
Spot-checked
In force from 10 September 2015
Source page 107