Insolvency Act Cap 53 in Kenya

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Search Results...

727 sections

• Section 181 of Insolvency Act CAP 53: Bankruptcy trustee to ensure record of examination is kept
  

  (1) On the holding of a public examination of a bankrupt before the Court, the Court shall ensure that a written record is made of the examination. (2) The Court shall also ensure that the record of the examination— (a) is read over to the bankrupt; and (b) is made available for inspection at all...

  
  
• Section 182 of Insolvency Act CAP 53: When examination ends
  

  (1) The public examination of a bankrupt ends when the Court makes an order declaring that the examination is ended. (2) The Court may make an order declaring that the examination has ended only if it is satisfied that the bankrupt's conduct, affairs and property have been sufficiently investigated...

  
  
• Section 183 of Insolvency Act CAP 53: Consequence of bankrupt's failing to attend examination
  

  If the bankrupt does not appear for the examination at the appointed time and has no reasonable excuse— (a) the Court may, either on the bankruptcy trustee's application or its own initiative, by warrant, have the bankrupt arrested and brought before the Court for examination; and (b) the Court...

  
  
• Section 184 of Insolvency Act CAP 53: Bankrupt entitled to be paid expenses for attending examination
  

  (1) A bankrupt is entitled to be paid such expenses for attending a public examination before the Court as are prescribed by the insolvency regulations for the purposes of this section. (2) It the relevant expenses have not been paid or tendered to the bankrupt, the bankrupt person is not obliged...

  
  
• Section 185 of Insolvency Act CAP 53: Power to extend examination companies controlled by bankrupt and bankrupt's associates
  

  (1) If authorised by the Court, the bankruptcy trustee or a person appointed by that trustee may exercise the powers specified in subsection (2) in relation to a company with which the bankrupt is associated or a partnership of which the bankrupt is a member. (2) The powers referred to in...

  
  
• Section 186 of Insolvency Act CAP 53: No privilege against self-incrimination, but statements not generally admissible in criminal proceedings against their maker
  

  (1) A person (including the bankrupt) who is examined or questioned at a public examination of a bankrupt shall answer all questions put to the person in relation to the bankrupt's conduct, affairs and property to the extent that the person is able to do so. (2) A person is not excused from...

  
  
• Section 187 of Insolvency Act CAP 53: Offences relating to examinations of bankrupts
  

  (1) A person who, without reasonable excuse— (a) fails to attend an examination as required by section 180(1); (b) fails to deliver a document as required under section 180(4)(a); (c) fails to answer a question as required under section 180(4)(b); or (d) in purporting to answer such a question,...

  
  
• Section 188 of Insolvency Act CAP 53: Entitlement of examinee to be represented
  

  (1) A person (including the bankrupt) who is examined or questioned at a public examination of a bankrupt is entitled to be represented by an advocate. (2) Such a person may be questioned by the bankrupt's advocate, and any answers given by the person form part of the examination.

  
  
• Section 189 of Insolvency Act CAP 53: Bankruptcy trustee may continue or disclaim bankrupt's contracts entered into before bankruptcy commenced
  

  If a bankrupt is a party to a contract, the bankruptcy trustee may— (a) continue the contract, subject to the terms of the contract and all relevant rules of law; or (b) disclaim the contract if it is onerous property for the purposes of section 118.

  
  
• Section 190 of Insolvency Act CAP 53: Contract terminated by other contracting party
  

  (1) This section applies if the other party to a contract to which the bankrupt is a party, in accordance with a term of the contract, terminates the contract in consequence of the bankruptcy. (2) Irrespective of what the contract provides, the bankruptcy trustee may recover such amount from the...

  
  
• Section 191 of Insolvency Act CAP 53: Transaction with bankrupt made in ignorance of bankruptcy
  

  (1) This section applies to a payment of money or a delivery of property to a person who is adjudged bankrupt, whether the payment or delivery is made— (a) on the order of the person; or (b) from the person to an assignee or to the order of an assignee. (2) The payment or delivery is a good...

  
  
• Section 192 of Insolvency Act CAP 53: Bankrupt's co-contractor may sue and be sued if there is a joint contractual liability
  

  If the bankrupt is jointly liable under a contract with another person, that other person may sue and be sued on the contract without the bankrupt being joined as a party to the proceeding.

  
  
• Section 193 of Insolvency Act CAP 53: Bankruptcy trustee may recover advocate's costs
  

  (1) The bankruptcy trustee may recover money paid by a bankrupt to the bankrupt's advocate for costs in obtaining a bankruptcy order, except for those (if any) prescribed for the purpose of this section by the insolvency regulations. (2) Subsection (1) applies whether the relevant payment was made...

  
  
• Section 194 of Insolvency Act CAP 53: Application of Division 19
  

  (1) This Division applies to the following irregular transactions by the bankrupt before the bankruptcy commenced— (a) an insolvent transaction; (b) an insolvent charge; (c) an insolvent gift; (d) a transaction at undervalue; (e) a contribution by the bankrupt to the property of another...

  
  
• Section 195 of Insolvency Act CAP 53: Power to extend certain periods specified in this Division
  

  For the purposes of this Division, a two year period or a six months period referred to in this Division can be extended— (a) in the case of a bankruptcy order made on a creditor's application, by the period between the time when the application was served on the bankrupt and the time when the...

  
  
• Section 196 of Insolvency Act CAP 53: Insolvent transactions may be cancelled by bankruptcy trustee
  

  A transaction by a bankrupt can be cancelled on the bankruptcy trustee's initiative if it— (a) is an insolvent transaction; and (b) was made within two years immediately before the bankruptcy commenced.

  
  
• Section 197 of Insolvency Act CAP 53: Meaning of insolvent transaction for purposes of sections 196
  

  (1) For the purposes of section 196, a transaction is an insolvent transaction by a bankrupt if it— (a) is entered into or made at a time when the bankrupt is unable to pay the bankrupt's debts; and (b) enables a creditor to receive more towards satisfaction of a debt by the bankrupt than the...

  
  
• Section 198 of Insolvency Act CAP 53: Insolvent transaction presumed
  

  For the purposes of section 196, a transaction that was entered into within the six months before a bankrupt is adjudged bankrupt is presumed, until the contrary is proved, to have been made at a time when the bankrupt is unable to pay the bankrupt's debts.

  
  
• Section 199 of Insolvency Act CAP 53: When series of transactions are to be regarded as single transaction
  

  (1) This section applies if a series of transactions made for commercial purposes forms an integral part of a continuing business relationship (such as a running account) between a bankrupt and a creditor in circumstances in which, during the course of the relationship, the level of the bankrupt's...

  
  
• Section 200 of Insolvency Act CAP 53: Insolvent charges can be cancelled on bankruptcy trustee's initiative
  

  A charge over any property of a bankrupt can be cancelled on the bankruptcy trustee's initiative if— (a) the charge was created within the two years immediately before the bankruptcy commenced; and (b) immediately after the charge was given, the bankrupt was unable to pay the bankrupt's due...

  
  
• Section 201 of Insolvency Act CAP 53: Charge for new consideration or replacement charge not affected
  

  (1) A charge may not be cancelled under section 200 if it secures— (a) money actually advanced or paid; (b) the actual price or value vof property sold or transferred; or (c) any other valuable consideration given, in good faith by the secured creditor to the bankrupt at the time when, or at any...

  
  
• Section 202 of Insolvency Act CAP 53: Presumption that bankrupt unable to pay due debts
  

  A bankrupt who gave a charge within the six months immediately preceding the commencement of the bankruptcy is presumed, until the contrary is proved, to have been unable to pay the bankrupt's debts immediately after the charge was created.

  
  
• Section 203 of Insolvency Act CAP 53: Charge for unpaid purchase price given after sale of property
  

  (1) If, in relation to property purchased by a bankrupt, the bankrupt has given to the seller a charge over the property within the two years immediately preceding the bankruptcy, section 200 does not affect the charge to the extent that it secures unpaid purchase money, but only if the charge was...

  
  
• Section 204 of Insolvency Act CAP 53: Appropriation of payments by bankrupt to secured creditor
  

  (1) This section applies if the bankrupt has made a payment or payments to a secured creditor after the bankrupt has given a charge to which section 202 or 203 applies. (2) The bankruptcy trustee shall credit the bankrupt's payment or payments (as far as is necessary) towards— (a) repayment of the...

  
  
• Section 205 of Insolvency Act CAP 53: Charge agreed before specified period not to be cancelled
  

  A charge or a security right given by the bankrupt under an agreement to give the charge or create a security right that was made or made effective against third parties before the two years immediately before the bankruptcy is not liable to be cancelled under section section 200.

  
  
• Section 206 of Insolvency Act CAP 53: Cancellation of gifts made within two years before bankruptcy
  

  A gift made by a bankrupt to another person can be cancelled on the bankruptcy trustee's initiative if the bankrupt made the gift within the two years immediately preceding the commencement of the bankruptcy.

  
  
• Section 207 of Insolvency Act CAP 53: Cancellation of gifts made by bankrupt made within five and two years before bankruptcy
  

  (1) A gift by a bankrupt to another person can be also cancelled on the bankruptcy trustee's initiative if — (a) the bankrupt made the gift during the period beginning five years and ending two years before the commencement of the bankruptcy; and (b) at the time when the gift was made, the...

  
  
• Section 208 of Insolvency Act CAP 53: Procedure for cancelling irregular transactions
  

  (1) The procedure set out in this section applies to the following irregular transactions— (a) an insolvent transaction; (b) an insolvent charge; (c) an insolvent gift; (d) any other transaction of a class prescribed by the insolvency regulations for the purposes of this section. (2) A...

  
  
• Section 209 of Insolvency Act CAP 53: Court may order retransfer of property or payment of an equivalent value
  

  (1) On the cancellation of an irregular transaction under which property of the bankrupt, or an interest in property of the bankrupt, was transferred, the Court may make an order— (a) for the retransfer to the bankruptcy trustee of the property or interest in the property; or (b) for payment to...

  
  
• Section 210 of Insolvency Act CAP 53: Limits on what can be recovered
  

  The Court may not make an order under section 209 against a person if the person proves that when the person received the property or interest in the property— (a) the person acted in good faith; (b) a reasonable person in the same position would not have suspected that— (i) in the case of an...