French Commercial code
In forceThe 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 the legal entity, to misappropriate or conceal, or attempt to misappropriate or conceal, all or part of their assets, or to fraudulently be recognised as owing sums which they did not owe.
The same penalties shall apply to a sole trader with limited liability or a sole trader covered by the status defined in Section 3 of Chapter VI of Title II of Book V who has been the subject of a judgment opening safeguard, receivership or liquidation proceedings, receivership or compulsory liquidation proceedings in respect of an activity to which assets are assigned or in respect of one or more professional activities of the sole trader covered by the status defined in the same section 3, in bad faith, with a view to evading payment of a sentence likely to be handed down or already handed down pursuant to the second paragraph of Article L. 651-2, embezzle or conceal, or attempt to embezzle or conceal, all or part of the assets of his unaffected assets or of his personal assets in the case of a sole trader covered by the status defined in Section 3 of Chapter VI of Title II of Book V, or fraudulently obtain recognition on the latter as the debtor of sums that he did not owe.
