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214

Article 214

Des Faillites

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

L'argent comptant, le produit de la vente des effets mobiliers, des objets périssables, seront remis entre les mains de celui qui sera nommé pour cet effet par les créanciers. Lequel ne pourra, sous quelque prétexte que ce soit, se dessaisir des objets plus haut désignés, sous les peines portées contre l'infidélité.

Life lesson: All cash and sale proceeds go to a creditor-appointed custodian who faces criminal penalties if he touches a cent.
Notes: Fund custody: cash + sale proceeds entrusted to creditor-appointed custodian. Absolute retention duty: no release under any pretext. Penalty: infidélité (breach of trust) charges. Fiduciary responsibility.
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