Bankruptcy and corporate crimes: what to do

Bankruptcy and corporate crimes: what to do.

Are you under investigation for a bankruptcy crime? Do you need a criminal lawyer?

Are you looking for a law firm specializing in corporate crimes?

What does the Supreme Court say about bankruptcy crimes?

The Court of Cassation has recently established that in the matter of the relationship between bankruptcy crimes and corporate crimes, in the case of false accounting followed by the bankruptcy of the company "“the fact referred to in art. 2621 of the Civil Code is absorbed into the crime of improper bankruptcy, while it concurs with the crimes of proper documentary bankruptcy referred to in the Bankruptcy Law, art. 216 paragraph 1, no. 2, where integrated by conduct other than falsification.” .

The Supreme Court also ruled that the crime of improper bankruptcy resulting from a corporate crime, as provided for by Article 223, paragraph 2, no. 1 of the Bankruptcy Law, is met even when the director simulates a non-existent state of financial soundness in the financial statements, thus facilitating the obtaining of new financing and supplies and facilitating the bankrupt company's debt exposure.

Article 223 provides for fraudulent bankruptcy. Paragraph 1 reintroduces the possibility of fraudulent bankruptcy involving assets and documents, as well as preferential bankruptcy, because it states that the penalties set forth in Article 216 apply to directors, general managers, auditors, and liquidators of companies declared bankrupt who have committed one of the acts indicated in that article. The company is declared bankrupt, and these individuals are liable for the same penalties, additional penalties, and disqualifications set forth in Article 216.
Article 224 provides a similar mechanism for simple bankruptcy cases. The penalties set forth in Article 217 apply to directors, general managers, auditors, and liquidators who have committed any of the acts set forth in that article.

Article 223, paragraph 2, no. 2, provides for a second hypothesis: the actions of the administrative, management, or control bodies who have intentionally caused the company's bankruptcy.

Similarly, Article 224, paragraph 1, no. 2, provides for the application of the penalty for simple bankruptcy to those individuals who have contributed to causing or aggravating the insolvency by failing to comply with the obligations imposed on them by law.

Law firm