Execution and Bankruptcy Crimes – Debtor Who Misleads Authorized Persons in a Concordat or Fails to Comply with the Conditions of Restructuring Through Concordat or Settlement
With the amendment made by Law No. 5092 dated 2004 to the article concerning these execution crimes, obtaining approval of the restructuring project of capital companies and cooperatives through settlement has been added as a material element of the crime. Apart from this added element, the other elements of the crime in the law are: causing creditors, the commissioner, the interim auditor, or the authorized officer to be misled about the financial situation by presenting a false balance sheet or preparing false accounts in order to obtain a concordat moratorium or to have the concordat or restructuring project approved; and intentionally causing damage by failing to comply with the concordat project or the restructuring project of capital companies and cooperatives through settlement.
For the crime to occur, the debtor must have intentionally caused the damage. This intent is a prerequisite for the crime to be committed.
The prosecution of this crime is subject to complaint, as stated in the legal text. Upon the complaint of the person concerned, the debtor is punished with imprisonment.
The competent court for these enforcement offenses is the Enforcement Criminal Court. The authorized court is the enforcement criminal court of the place where the enforcement proceedings are conducted or the enforcement criminal court of the place where the debtor’s place of business is located.