Section 452 of Insolvency Act CAP 53: Order made by the Court against contributory to be conclusive evidence that money ordered to be paid is due
(1) An order made by the Court on a contributory is conclusive evidence that any money appearing to be due or ordered to be paid by the contributory is due.
(2) Subsection (1) is subject to the exercise of any available right of appeal.
(3) All other pertinent matters stated in the order are to be taken as truly stated as against all persons and in all legal proceedings.
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The Court may fix deadlines by which creditors are required to prove their debts or claims or are to be excluded from the benefit of any distribution made before those debts are proved.
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The Court shall adjust the rights of the contributories among themselves and distribute any surplus among the persons entitled to it.
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(1) At any time after making a liquidation order, the Court may make such order for inspection of the company's records by creditors and contributories as the Court considers appropriate.
(2) The...
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(1) If the assets of a company are insufficient to satisfy its liabilities, the Court may—
(a) make an order for the expenses incurred in the liquidation to be paid out of the company's assets;...
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(1) If, at any time either before or after making a liquidation order, the Court is satisfied on reasonable grounds that a contributory is—
(a) about to leave Kenya or otherwise to abscond;...
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- Section 462 - Liquidator's functions: voluntary liquidation
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- Section 463 - Liquidator's functions: creditors' voluntary liquidation
(1) If, in the case of a creditors' voluntary liquidation, a liquidator has been nominated by the company, the powers conferred on the liquidator by section 462 may not be exercised, except with...
- Section 464 - Liquidator's functions: liquidation by the Court
(1) If a company is being liquidated by the Court, the liquidator may—
(a) with the approval of the Court or the liquidation committee (if there is one), exercise any of the powers specified in Parts...
- Section 465 - Liquidator's functions: supplementary powers
(1) If a company is being liquidated by the Court, the liquidator may convene general meetings of the creditors or contributories for the purpose of ascertaining their wishes.
(2) The liquidator...
- Section 466 - Enforcement of liquidator's duties to lodge, deliver and make returns, accounts and other documents
(1) If a liquidator has—
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(i) failed to prepare, make or lodge a return, account or other document as required by a...
- Section 467 - Circumstances in which liquidator may be removed from office in the case of a voluntary liquidation
(1) This section applies to the removal from office and vacation of office of the liquidator of a company that is in voluntary liquidation.
(2) Subject to subsection (2), a liquidator may be removed...
- Section 468 - Liquidator may be removed only by the Court or by general meeting of creditors in the case of company being liquidated by the Court
(1) This section applies with respect to the removal from office and vacation of office of—
(a) the liquidator of a company that being liquidated by the Court; or (b) a provisional liquidator.
(2) A...
- Section 469 - Release of liquidator in the case of company liquidated voluntarily
(1) This section applies with respect to the release of the liquidator of a company that is in voluntary liquidation.
(2) A person who has ceased to be a liquidator is entitled to be released from...
- Section 470 - Release of liquidator in the case of company liquidated by the Court
(1) This section applies with respect to the release of the liquidator of a company that is in liquidation by the Court, or of a provisional liquidator.
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(2) Subsection (1) is...
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(1) This section applies to a company that is being liquidated by the Court.
(2) If a person (whether or not a landlord or person entitled to rent) has distrained on the property of the company...
- Section 473 - Expenses of liquidation to have priority over claims under floating charge
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- Section 474 - Share of assets to be made available for unsecured creditors where floating charge relates to company's property
(1) This section applies to a company in respect of which a floating charge relates to its property—
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(1) If a company is in liquidation or a provisional liquidator is appointed in respect of the company, the Court may, on an application made under subsection (2), appoint a person to be the special...
- Section 476 - Power of liquidator to disclaim onerous property
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- Section 477 - Special provisions relating to disclaimer of leaseholds
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- Section 478 - Effect of disclaimer in relation to land subject to rentcharge
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- Section 479 - General powers of the Court in respect of disclaimed property
(1) This section and section 480 apply to property that the liquidator has disclaimed in accordance with section 476.
(2) An application to the Court for an order under subsection (3) may be made...
- Section 480 - Powers of the Court in respect of leaseholds held by company in liquidation
(1) The Court may not make an order under section 479 vesting a leasehold interest in a person claiming under the company as underlessee or mortgagee except on terms making the person—
(a) subject to...
- Section 481 - Creditor not entitled to retain benefit of execution or attachment against liquidator unless creditor completes execution or attachment before commencement of liquidation
(1) If—
(a) a creditor—
(i) has issued execution against the goods or land of a company; or
(ii) has attached any debt due to it; and
(b) the company is subsequently liquidated, the creditor is...
- Section 482 - Duties of judicial enforcement officers charged with execution of writs and other processes involving companies in liquidation
(1) This section applies if—
(a) a company's goods are taken in execution; and
(b) before their sale or the completion of the execution (whether by the receipt or recovery of the full amount of the...
- Section 483 - Power of the Court to rescind contracts entered into by company in liquidation
(1) A person who is, as against the liquidator, entitled to the benefit or subject to the burden of a contract made with the company, may make an application for an order under subsection (2).
(2) On...
- Section 484 - Power of liquidator to transfer assets of company to its employees
(1) On the liquidation of a company (whether by the Court or voluntarily), the liquidator may, in accordance with this section, make any payment that the company has, before the commencement of the...
- Section 485 - Company in liquidation required to state that it is in liquidation in all invoices, letters and other communications
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(a) every invoice, order for goods or services, business letter or order form...
- Section 486 - Interest on debts to be paid if surplus permits
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- Section 487 - Certain documents relating to company in liquidation to be exempt from stamp duty
(1) If a company is in liquidation, the following documents are exempt from stamp duty—
(a) every transfer relating solely to freehold or leasehold property, or to any interest in, any real or...
- Section 488 - Records of company in liquidation to be evidence
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- Section 489 - Liquidator to lodge periodic statements with Registrar of Companies with respect to current position of liquidation
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- Section 491 - Court may order meetings to be held to ascertain wishes of creditors or contributories
(1) The Court may—
(a) as to all matters relating to the liquidation of a company, have regard to the wishes of the creditors or contributories (as proved to it by any sufficient evidence); and...
- Section 492 - Judicial notice to be taken of documents of the Court
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- Section 493 - Affidavits required to be sworn for purposes of this Part
(1) An affidavit required to be sworn under or for the purposes of this Part may be sworn in Kenya—
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(1) This section applies to a company in voluntary liquidation if the liquidator has sent to the Registrar the liquidator's final account and return in accordance with section 402 or 414.
(2) As soon...
- Section 495 - Early dissolution of company
(1) This section applies when an order for the liquidation of a company has been made by the Court and the Official Receiver is the liquidator of the company.
(2) On being satisfied—
(a) that the...
- Section 496 - Consequence of notice given under section 495(3)
(1) If a notice has been given in accordance with section 495(3), the Official Receiver or any creditor or contributory of the company may apply to the Court for directions under this...
- Section 497 - Dissolution otherwise than under sections 494 - 496
(1) This section applies to a notice that is—
(a) served for the purposes of section 468(9); or
(b) from the Official Receiver that the liquidation of a company by the Court is complete.
(2) As...
- Section 498 - Offence involving commission of fraudulent acts in anticipation of liquidation
(1) This section applies in relation to a company—
(a) in respect of which the Court has made a liquidation order; or
(b) that has passed a resolution for the voluntary liquidation of the...
- Section 499 - Offence involving misconduct committed in course of liquidation of company
(1) This section applies in relation to a company—
(a) in respect of which the Court has made a liquidation order; or
(b) that has passed a resolution for the voluntary liquidation of the...
- Section 500 - Offences involving transactions to defraud creditors of company in liquidation
(1) This section applies in relation to a company that is in liquidation, whether voluntary or by the Court.
(2) An officer or former officer of the company commits an offence if the officer or...
- Section 501 - Offence to falsify documents in relation to company in liquidation
(1) This section applies in relation to a company that is in liquidation, whether voluntary or by the Court.
(2) An officer or contributory of the company commits an offence if, during the...
- Section 502 - Offence to make material omission from statement relating to financial position of company in liquidation
(1) This section applies to a company that is in liquidation, whether voluntary or by the Court.
(2) An officer or former officer of the company commits an offence if, during the liquidation, the...