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Bankruptcy Law

Auteur : Louis Vogel

Sommaire de l’ouvrage

  • Introduction

  • Part 5: Responsibilities and penalties

    • Title 3: Personal bankruptcy and other prohibition measures

      • Chapter 1: Sanctioned behavior

        • Section 1: Restrictive nature of the list

        • Section 2: Common system

          • I: Shortcomings attributable to individuals

          • II: Defects attributable to the sole trader

          • III: Shortcomings attributable to managers

            • A: Disposal of company property as if it were one's own property

            • B: Commercial acts carried out for personal gain

            • C: Use of company assets and credit for personal purposes

            • D: Abusive continuation of a loss-making operation for personal gain

            • E: Misappropriation/dissimulation of assets or fraudulent increase in liabilities

            • F: Failure to make good the asset shortfall

        • Section 4: Temporal element

1003. Misappropriation/dissimulation of assets or fraudulent increase in liabilities

1 minute de lecture

Article L. 653-3, 5° of the Commercial Code imposes a penalty of personal bankruptcy on any de jure or de facto manager of a legal entity who has misappropriated or concealed all or part of the company's assets. Repayment of a partner's everyday account, which constitutes payment of a company debt, cannot be classified as misappropriation of assets , unless it is made when the company is no longer …

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