(New, SG No. 107/1996) Crimes Against Creditors Article 227b (1) (Amended, SG No. 85/1998, SG No. 75/2006) A trader who becomes insolvent and within thirty days following suspension of payments fails to notify this to the court shall be punished by imprisonment for up to three years or by a fine in the amount of up to BGN 5,000. (2) (Amended, SG No. 26/2010) The penalty under paragraph (1) shall also be inflicted on persons managing or representing a company or a co-operative if within thirty (30) days following suspension of payments they have failed to request the court to initiate insolvency proceedings. (3) The penalty under paragraph (1) shall also be inflicted on a procurator who has failed to fulfil his obligation under Article 626, paragraph 3 of the Commerce Act. (4) (New, SG No. 62/1997, amended, SG No. 59/2006, supplemented, SG No. 102/2015, effective 1.01.2016) The punishment under paragraph (1) shall be imposed also on persons who were bound to notify the Bulgarian National Bank of a bank which has become insolvent, pursuant to the Credit Institutions Act, as well as the persons who were under an obligation to notify the Financial Supervision Commission of the insolvency of an insurer or a reinsurer according to the Insurance Code should they fail to do so. Article 227c (New, SG No. 107/1996) (1) A trader who following the initiation of insolvency proceedings: 1. conceals, destroys, damages or alienates gratuitously moneys, effects, securities or other valuables that may serve to satisfy his creditors; 2. alienates moneys, effects, securities or other valuables which may serve to satisfy his creditors where what has been given away considerably exceeds what has been received and has been carried out in contradiction with the usual course of business; 3. remits or conceals any of his receivables; 4. admits to or anyhow assumes or fulfils a non-existent obligation; 5. gets a loan knowing that he is unable to repay it; 6. supplies on credit goods, moneys, effects, securities or other valuables that are in his possession in a manner contradicting the usual course of business; 7. satisfies in violation of the law only one or several creditors or secures them in the prejudice of all remaining creditors; 8. destroys, conceals or alters his trade books or documents, or keeps them in violation of the law in a manner obstructing the ascertainment of the assets and liabilities of his business or activity, in the event that in consequence of the hereinabove enumerated acts considerable damages have been inflicted shall be punished for deliberate bankruptcy by imprisonment for up to three (3) years. (2) Where through an act enumerated under paragraph (1) damages in particularly large proportions have been inflicted constituting an especially grave case the penalty shall be imprisonment from three (3) up to fifteen (15) years. The courts shall also rule deprivation of