Article 260 of the Penal Code

  Penal Code

1. The debtor who, being in a situation of current or imminent insolvency, favors one of the creditors by carrying out an act of patrimonial disposition or generator of obligations intended to pay a non-demandable credit or to provide a guarantee to which he was not entitled, in the case of an operation that lacks economic or business justification.

2. The debtor who, once the bankruptcy application has been admitted for processing, without being authorized to do so either by the courts or by the bankruptcy administrators, will be punished with one to four years in prison and a fine of twelve to twenty-four months, and In the cases permitted by law, carry out any act of patrimonial disposition or generator of obligations, destined to pay one or several creditors, privileged or not, with postponement of the rest.

art 260 cp

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Article 260 of the Penal Code Spanish refers to the crime of punishable insolvency and its penalties in certain special conducts.