Article 726 — Irregular Bankruptcy.

(1) A debtor who has caused his own insolvency or who has intentionally aggravated it by acting with culpable lack of foresight, or with gross negligence or mismanagement, in the exercise of his profession, whether by failing to keep proper books or accounts, by incurring excessive expenditure or by hazardous speculation or in any other manner, shall be punishable with simple imprisonment. (2) Where the act is committed negligently, the punishment shall be simple imprisonment not exceeding six months, or fine not exceeding five thousand Birr. (3) Proceedings may be taken against a debtor not registered in the commercial registry only upon a complaint by the creditor, to be brought within three months from the delivery of the declaration of default. (4) A creditor who caused a debtor to act with lack of foresight or negligence, resulting in insolvency, or who acted towards him with usury, may not bring a complaint against such debtor.