Section 396 of Insolvency Act CAP 53: Consequences of resolution to liquidate

The following are void if made after the commencement of a voluntary liquidation of a company— (a) any transfer of the company's shares (other than a transfer made to or with the sanction of the...

(1) If it is proposed to liquidate a company voluntarily, the directors (or, in the case of a company having more than two directors, the majority of them) may at a directors' meeting make a statutory...

(1) In a members' voluntary liquidation, the company in general meeting shall appoint one or more liquidators for the purpose of liquidating the company's affairs and distributing its assets. (2) On...

(1) If a vacancy occurs (whether by death, resignation or otherwise) in the office of liquidator appointed by the company, the company in general meeting shall, subject to any arrangement with its...

(1) If the liquidation of a company continues for a period of twelve months or more, the liquidator shall convene a general meeting of the company— (a) within three months after the end of that...

(1) As soon practicable after the liquidation of the company's affairs is complete, the liquidator— (a) shall prepare an account of the liquidation showing how it has been conducted and how the...

(1) This section applies if the liquidator is of the opinion that the company will be unable to pay its debts in full (together with interest at the official rate) within the period stated in the...

As from and including the date on which the creditors' meeting is held in accordance with section 403— (a) this Part has effect as if— (i) the directors' declaration under section 398 had not been...

(1) Except as provided by subsection (2), this Division applies in relation to a creditors' voluntary liquidation. (2) Sections 406 and 407 do not apply if, under section 404, a members' voluntary...

(1) A company that is in the course of liquidation shall— (a) convene a meeting of the company's creditors for a day not later than the fourteenth day after the day on which there is to be held the...

(1) The directors of the company shall— (a) prepare a statement setting out the financial position of the company that complies with subsection (3); (b) lay that statement before the creditors'...

(1) The creditors and the company at their respective meetings may nominate an authorised insolvency practitioner to be liquidator for the purpose of liquidating the company's affairs and distributing...

(1) The creditors at the meeting to be held in accordance with section 406 or at any subsequent meeting may, if they think appropriate, appoint a liquidation committee of not more than five persons to...

If, in the case of a liquidation that was under section 404 converted to a creditors' voluntary liquidation, a creditors' meeting is held in accordance with section 403, any appointment made or...

On the appointment of a liquidator, all the powers of the directors cease, except so far as the liquidation committee, or if there is no such committee, the creditors, sanction their continuance.

(1) If a vacancy occurs in the office of liquidator, the creditors may fill the vacancy. (2) Subsection (1) does not apply to a liquidator appointed by, or by the direction of, the Court.

(1) A liquidator who continues in office for more than twelve months shall convene a general meeting of the company and a meeting of the creditors to be held— (a) within three months after the end of...

(1) As soon practicable after the liquidation of the company's affairs has been completed, the liquidator shall prepare an account of the liquidation and an explanation showing how it has been...

(1) On the liquidation, the company's property in the voluntary liquidation— (a) are to be applied in satisfaction of the company's liabilities equally and without preference; and (b) subject to...

(1) The Court may appoint a liquidator if for any reason there is no liquidator or the liquidator is unable to act. (2) The Court may, on cause shown, remove a liquidator and appoint another...

(1) Within seven days after being appointed as liquidator of a company, the liquidator shall publish a notice of the liquidator's appointment— (a) once in the Gazette; (b) once in at least two...

(1) In this section— (a) the transferor company is a company to which this section applies; and (b) a transferee company, or a transferee limited liability partnership, is the company or partnership...

(1) This section applies to a voluntary liquidation in relation to which the transferor company has passed a special resolution, for the purposes of section 418(3) or (5), providing the approval...

(1) The liquidator, or a contributory or creditor, may apply to the Court to determine any question arising in the liquidation of a company, or to exercise, with respect to the enforcing of calls or...

(1) If, in the case of a company that is in voluntary liquidation, a liquidator has not been appointed or nominated by the company, the directors may exercise their powers only— (a) with the approval...

The voluntary liquidation of a company does not prevent a creditor or contributory from seeking to have the company liquidated by the Court, but in the case of an application by a contributory, the...

(1) Only the High Court has jurisdiction to supervise the liquidation of companies registered in Kenya. (2) Subsection (1) does not apply to a company that is in voluntary liquidation in accordance...

(1) A company may be liquidated by the Court if— (a) the company has by special resolution resolved that the company be liquidated by the Court; (b) being a public company that was registered as...

(1) An application to the Court for the liquidation of a company may be made any or all of the following — (a) the company or its directors; (b) a creditor or creditors (including any contingent or...

(1) If, in relation to a company, it appears to the Attorney-General— (a) from a report made or information obtained from investigations carried out or inspection of documents produced under the...

(1) On the hearing of a liquidation application, the Court may make such of the following orders as it considers appropriate— (a) an order dismissing the application; (b) an order adjourning the...

(1) At any time after the making of a liquidation application, and before a liquidation order has been made, the company, or any creditor or contributory, may— (a) if legal proceedings against the...

(1) In a liquidation ordered by the Court— (a) any disposition of the company's property; and (b) any transfer of shares, or alteration in the status of the company's members, made after the...

If a company is being liquidated by the Court, any attachment, sequestration, distress or execution instigated against the assets of the company after the commencement of the liquidation is void.

(1) If, before the making of an application for the liquidation of a company by the Court, a resolution has been passed by the company for liquidating the company voluntarily— (a) the liquidation...

(1) Within seven days after a liquidation order is made in respect of a company, the company shall lodge a copy of the order with the Registrar for registration and also lodge a copy of it with the...

(1) If the Court has made a liquidation order or appointed a provisional liquidator in respect of a company, the Official Receiver may require some or all of the prescribed persons to make out and...

(1) On the making of a liquidation order, the Official Receiver shall conduct an investigation— (a) if the company has failed,to discover why the company failed; and (b) generally, to investigate...

(1) If a company is being liquidated by the Court, the Official Receiver may, at any time before the dissolution of the company, apply to the Court for the public examination of any person who— (a) is...

(1) A person who, without reasonable excuse, fails at any time to attend the person's public examination under section 435 is guilty of a contempt of Court and is liable to be punished accordingly (in...

(1) The Court may appoint a provisional liquidator either on or after, or at any time before, the making of a liquidation order in respect of a company. (2) Only the Official Receiver or an...

(1) Subsections (2) to (7) have effect, subject to section 441 when the Court makes an order for the company to be liquidated. (2) The Official Receiver becomes the liquidator of the company and...

(1) In the case of a liquidation ordered by the Court, the Official Receiver (being the liquidator) may, at any time, appoint a qualified person as liquidator instead. (2) If meetings are held in...

(1) If a company is being liquidated by the Court and separate meetings of the company's creditors and the company's contributories are convened for the purpose of choosing a person to be liquidator...

(1) If a liquidation order is made immediately on the appointment of an administrator ceasing to have effect, the Court may appoint as liquidator of the company the person whose appointment as...

(1) If, after a liquidation order has been made, separate meetings of creditors and contributories have been convened for the purpose of choosing a person to be liquidator, those meetings may...

(1) The functions of the liquidator of a company that is being liquidated by the Court are— (a) to ensure that the assets of the company are realised and distributed to the company's creditors;...

When— (a) a liquidation order has been made; or (b) a provisional liquidator has been appointed, in respect of a company, the liquidator or the provisional liquidator shall assume control of all the...

(1) When a company is being liquidated by the Court, the Court may, on the application of the liquidator, by order direct all or any part of the property belonging to the company or held by trustees...

(1) If, in the case of a company that is being liquidated by the Court, the liquidator (not being the Official Receiver) is satisfied that the liquidation of the company is for all practical purposes...