(1) Whosoever

1.  with knowledge of another’s impending inability to pay; or

2.  after the suspension of payments, in an insolvency proceeding or in a proceeding about the institution of insolvency proceedings of another, with his consent or on his behalf disposes of or hides, or, in a manner contrary to regular business standards, destroys, damages or renders unusable parts of the other’s assets, which in the case of institution of insolvency proceedings would belong to the available assets,

shall be liable to imprisonment not exceeding five years or a fine.

(2) The attempt shall be punishable.

(3) In especially serious cases the penalty shall be imprisonment from six months to ten years. An especially serious case typically occurs if the offender

1.  acts out of profit-seeking; or

2.  knowingly places many persons in danger of losing their assets that were entrusted to him, or in financial hardship.

(4) The offence shall only entail liability if the other person has suspended payments or if insolvency proceedings have been instituted in relation to his assets or the application to institute proceedings has been rejected due to lack of available assets.