Bankruptcy Law

Without prejudice to the provisions of relevant laws, any natural person debtor, or any of the debtor's managers, or any member in his board of directors or board of managers, or any of his officials, or any person who participated in the establishment or management thereof, and the like, shall be deemed in violation of this Law, if they commit one or more of the following acts prior to the initiation of any bankruptcy procedure which result in the initiation of the procedure, or commit such acts during the procedure, which are detrimental to third party rights including creditors: a) Misusing or seizing the debtor’s assets or bankruptcy assets, or abusing power. b) Engaging in the debtor’s business for the purpose of defrauding his creditors. c) Continuing the debtor’s business knowing that liquidation is inevitable. d) Using arbitrary methods to avoid or delay the initiation of the liquidation procedure, thus undermining the rights of creditors, including the sale of goods at rates below the market price to generate cash. e) Concluding transactions for no or unfair consideration. f) Paying debts of any creditor in a manner detrimental to the rights of other creditors. g) Abusing any of the bankruptcy procedures.