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Article L654-12 of the French Commercial code

I.-It is punishable by the penalties laid down in Article 314-2 of the Criminal Code for any administrator, court-appointed agent, liquidator or plan execution commissioner, including any person appointed pursuant to the provisions of the first paragraph of II of Article L. 812-2 or of III of the same article: 1° Deliberately harming the interests of the creditors or the debtor either by using for his own benefit sums received…

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Article L654-13 of the French Commercial code

A creditor who, after the judgment opening the safeguard, receivership or compulsory liquidation proceedings, enters into an agreement involving a particular advantage to be borne by the debtor shall be liable to the penalties provided for by Article 314-1 of the Penal Code. The court seised declares this agreement null and void.

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Article L654-14 of the French Commercial code

The penalties provided for in Articles L. 654-3 to L. 654-5 the fact, for the persons mentioned in 2° and 3° of article L. 654-1, in bad faith, with a view to evading all or part of their assets from the proceedings of the legal entity which has been the subject of a judgment opening a safeguard, receivership or compulsory liquidation or from those of the partners or creditors of…

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Article L654-15 of the French Commercial code

It is an offence for any person to carry out a professional activity or functions in breach of the prohibitions, disqualifications or incapacities provided for by articles L. 653-2 and L. 653-8, is punishable by two years’ imprisonment and a fine of 375,000 euros.

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Article L654-16 of the French Commercial code

For the application of the provisions of sections 1 and 2 of this chapter, the statute of limitations for public prosecution shall run only from the date of the judgment opening the safeguard, receivership or compulsory liquidation proceedings where the incriminating acts occurred before that date. .

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Article L654-17 of the French Commercial code

The criminal court is seised either on the prosecution of the public prosecutor or on the filing of a civil party action by the administrator, the court-appointed agent, the employees’ representative, the commissioner for the implementation of the plan, the liquidator or the majority of the creditors appointed as controllers acting in the collective interest of the creditors when the court-appointed agent with standing to act has not acted, after…

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Article L654-19 of the French Commercial code

The costs of proceedings brought by the administrator, the judicial representative, the employees’ representative, the commissioner for the execution of the plan or the liquidator are borne by the Treasury, in the event of an acquittal. In the event of a conviction, the Treasury may only exercise its recourse against the debtor after the close of the judicial liquidation operations.

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