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193

Article 193

Des Faillites

Commercial Law
Titre IV: Des Faillites et Banqueroutes (On Bankruptcies and Fraudulent Bankruptcies)
Chapitre I: Des Faillites (On Bankruptcies)

Le failli sera tenu de donner à ses créanciers un bilan, dans lequel seront portées ses dettes actives et passives; si au moment de la faillite il n'était pas fait, il le sera en présence des agens nommés par les créanciers.

Life lesson: The bankrupt must produce a full balance sheet — and if he didn't prepare one beforehand, the creditors' agents will watch him do it.
Notes: Balance sheet obligation: bilan listing active debts (receivables) and passive debts (payables). If not prepared pre-bankruptcy, must be done in presence of creditor-appointed agents. Full transparency.
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