Enforcement And Bankruptcy Offense 13
Bankruptcy Offense – Failure to File for Bankruptcy of a Capital Company
Persons authorized to manage and represent the company or liquidation officers shall be punished for the offense of failure to file for bankruptcy of a capital company by stating the reasons why the company’s assets are insufficient to cover its debts, pursuant to the provision in Article 179 of the Bankruptcy Law.
For the crime of failure to petition for bankruptcy of a capital company to occur, the persons authorized to represent and manage the company or cooperative must have the intent or fault to not petition for the bankruptcy of the company or cooperative. And, of course, the company’s or cooperative’s assets must be insufficient to cover its debts. If these conditions are not met, it will not be possible to punish the persons authorized to manage and represent the company for enforcement offenses.
Since the offense of not filing for bankruptcy of a capital company is also subject to complaint, creditors must file a complaint within three months from the date they learn that the offense has been committed and, in any case, within one year. The complainant must be a creditor of the company; therefore, the competent court must determine whether the complainant is a creditor of the company.
The court competent to hear the case is the Enforcement Criminal Court. The competent court is the court where the company’s place of business is located or the court where the enforcement office conducting the proceedings is located.