Cap. 13 ст. 539Fraudulent bankruptcy.

(1) The benefits granted by articles 524 and 534 in favour of the bankrupt shall not apply in the case of fraudulent bankruptcy.

(2) A bankrupt shall be deemed to be a fraudulent bankrupt in each one (1) of the following cases:

(a) if he makes an untrue statement in respect of the debts owing to or from him, or in respect of his bankruptcy, saving any criminal proceedings which may be brought against the bankrupt for having perjured himself or sworn falsely;

(b) if he has simulated any expenses or losses or if he fails to give a satisfactory explanation of the manner in which his income has been disposed of;

(c) if he has concealed or removed any sum of money, or any debt due to him, goods, merchandise or other movable effects;

(d) if he has made fictitious sales, transactions or donations;

(e) if he has simulated collusive debts between himself and fictitious creditors, by simulated writings or by declaring himself debtor, without consideration or cause, in any public or private act;

(f) if he has concealed or destroyed his books, documents or other papers relating to his accounts.