Fraudulent Bankruptcy: Analysis of the Cassation Court Ruling No. 21860/2024
The recent ruling of the Cassation Court No. 21860 of May 31, 2024 provides an important reflection on a constantly relevant theme in criminal law: fraudulent bankruptcy. The Court confirmed the responsibility of A.A., manager of Geiwatt Srl, for diverting assets and resources of the company, causing severe damage to creditors. This article aims to analyze the key points of the decision, the legal implications, and the possible consequences for company administrators.
The Context of the Ruling
The ruling in question occurs within a context of fraudulent bankruptcy due to diversion, in which A.A. was accused of using the assets of Geiwatt Srl for purposes unrelated to its activity, worsening the company's debt situation. The Court of Appeal of Ancona had already established the criminal responsibility of the defendant, which was confirmed by the Cassation Court.
- Purchasing operations at prices exceeding the actual value
- Use of uncollectible debts in the business valuation
- Payments to companies linked to the same A.A.
The criminal responsibility for fraudulent bankruptcy is established not only for the actual damage but also for the danger that the operation poses to creditors.
The Court's Reasoning
The Court clarified that fraudulent bankruptcy does not require a causal link between the diversionary conduct and the bankruptcy, but is based on the danger to creditors. The significant overestimation of the values at stake, which led to a diversionary conduct, was emphasized. Furthermore, the Court highlighted that the subjective element of intent is present even when the manager acts with the intent to 'save' the company, stressing that awareness of the risk to creditors is sufficient to characterize the offense.
Conclusions
The ruling No. 21860/2024 of the Cassation represents an important confirmation of the jurisprudential line regarding fraudulent bankruptcy. Administrators must be aware that even seemingly legitimate operations can entail serious criminal responsibilities if not carried out in the interest of the company and its creditors. It is crucial for those managing a company to maintain a transparent and compliant conduct to avoid criminal consequences.
