Fraudulent insolvency organization

Fraudulent Insolvency Organization

How PROCAP DETECTIVE can help you

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We seek and build evidence of fraudulent insolvency organisation so that you can take legal action and effectively defend your interests

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The fraudulent organization of insolvency is a criminal offence defined and repressed by article 314-7 of the Penal Code. It is the fact, for a natural or legal person, before or after a conviction or the establishment of its debt, to fraudulently organize or aggravate its impoverishment in order to voluntarily escape the obligation to pay a debt of heritage or certain convictions of a financial nature. The fraudulent insolvency organisation is characterised by the following:

 

• A voluntary increase in liabilities (taking out loans, loans or credits, voluntary deposit, false declaration of debt, etc.)

• A voluntary decrease in assets (donation, destruction, disposal, sale)

• A voluntary reduction or concealment of all or part of his income (voluntary withholding of income, renouncing a better-paid job, opening a hidden account, etc.)

• A voluntary concealment of its assets (use of loan-names, fictitious assignment, transfer of funds, etc.)

 

The intentional nature of the offence must also be demonstrated. The penalties incurred are three years' imprisonment and a €45,000 fine.

 

You suspect your debtor to organize his insolvency, the firm PROCAP DETECTIVE is competent to research and establish any material and intentional elements constituting the offence of fraudulent insolvency organization.