Fraudulent Bankruptcy Document: Commentary on Judgment No. 39160 of 2024
The recent judgment No. 39160 of October 4, 2024, filed on October 25, 2024, provides significant insights into fraudulent bankruptcy documentation, a crime that highlights the responsibilities of directors in the context of managing a company's accounting records. The Court of Cassation, addressing the case of a change in the management of a company, reiterated the importance of controlling accounting documentation and the legal consequences in the event of irregularities.
Obligations of the New Director
In the reasoning of the judgment, the Court established that the new director has the obligation to:
- Verify the proper maintenance of accounting records by the predecessor;
- Reconstruct any missing or inadequate documentation;
- Restore any missing books and accounting records;
- Regularize any erroneous, incomplete, or false records.
Fraudulent bankruptcy documentation - Change in company management - Failure to find accounting records - Obligations of the new director - Indication. In the context of fraudulent bankruptcy documentation, in the case of a change in the management of a company, the new director has the obligation to verify the actual and correct maintenance of the accounting records by the predecessor, as well as to reconstruct any missing or inadequate documentation, restore the missing books and accounting records, and regularize erroneous, incomplete, or false records. (In its reasoning, the Court stated that the outgoing director remains responsible for the maintenance of accounting during the period they held the position and for any concealment, in whole or in part, of the documentation at the time of the handover).
Responsibilities and Legal Consequences
A crucial aspect emerging from the judgment is that, despite the change in management, the responsibility for maintaining accounting records remains with the outgoing director for the period in which they held the position. This implies that, in the event of a dispute, both directors could be called to answer for any irregularities. This principle is based on Article 216 of the Bankruptcy Law, which clearly outlines the responsibilities in the case of fraudulent bankruptcy.
Conclusions
Judgment No. 39160 of 2024 represents an important confirmation of the responsibilities linked to accounting management in the corporate sphere. Directors must be aware of their legal obligations and the consequences arising from non-compliance. Proper maintenance of accounting records is not only a regulatory obligation but also a guarantee for transparency and regularity in business management.
