Would e Present perfect: qual a frase correta?

Olá pessoal,
Gostaria de tirar uma dúvida de gramática para saber qual das duas formas abaixo é a correta.Quando uso o "would" com "present perfect", posso usar tempo defenido (last year) ou não ? E seria correto eu dizer "I hadn't been told the truth in time" ou "I hadn't been telling the truth on time"
Segue exemplo das frases completas:
I don't know what would have happened last year if I hadn't been told the truth in time.
I don't know what would happen last year if I hadn't been telling the truth on time.

Qual seria a correta,
Obrigado, Ilmara