Criminal Code of Kosovo - Legislationline

Article 286
Causing bankruptcy
1. Whoever, with knowledge of excessive indebtedness or current or impending
insolvency engages in one or more of the following activities shall be punished with
imprisonment of six (6) months to five (5) years:
1.1. conceals or alienates, or, in a manner contrary to regular business standards,
destroys, damages or renders unusable any asset, which in the case of institution
of insolvency proceedings would belong to the bankrupt estate;
1.2. in a manner contrary to regular business standards, enters into losing or
speculative ventures or futures trading in goods or securities or consumes
excessive sums or becomes indebted through uneconomical expenditures,
gambling or wagering;
1.3. procures goods, services, or credit, undertakes economic activity that creates
excessive debt, concludes or renews unreasonable contracts, fails to collect
outstanding debts, fails to enforce claims in a timely manner and/or disposes of
goods or services, securities or things produced from these goods substantially
under their value in a manner contrary to regular business standards;
1.4. feigns the existence of another's rights or knowingly recognizes fabricated
rights;
1.5. fails to keep books of account, which he or she is statutorily obligated to
keep, or keeps or modifies them such that an analysis or audit of the net assets is
made more difficult;
1.6. alienates, conceals, destroys or damages books of account or other
documentation, with the intent to make an analysis or audit of net assets more
difficult, conceal assets or defraud any person;
1.7. diminishes net assets or hides or conceals actual business relationships in any
other manner which is grossly contrary to regular business standards;
1.8. assumes excessive obligations; or
1.9. concludes or renews unreasonable contracts with insolvent entities.
2. The offense in paragraph 1 of this Article is punishable only if compulsory liquidation
or bankruptcy proceedings have been initiated.
3. If the offense from paragraph 1 of this Article is committed by negligence, the
perpetrator shall be punished by imprisonment of up to three (3) years.
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