Azerbaijan to toughen penalties for false bankruptcy

Azerbaijan to toughen penalties for false bankruptcy

Azerbaijan plans to toughen the penalties for false and deliberate bankruptcy of enterprises.

This is envisaged in the draft amendments to the Code of Administrative Offences, which have been submitted for consideration by the Milli Majlis (Parliament) of Azerbaijan.

Now penalties for officials convicted of this will increase from 55-70 to 1000-2000 manats, and for legal entities from 100-200 to 2500-3000 manats.

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