Insolvency Act CAP 53▤
Bankruptcy trustee may disclaim liability under shares
(1) The bankruptcy trustee may disclaim a liability under shares owned by the bankrupt in a company by disclaiming them as onerous…
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727 results · Insolvency Act CAP 53
Insolvency Act CAP 53▤
Bankruptcy trustee may disclaim liability under shares
A bankruptcy trustee may disclaim any liability under shares owned by the bankrupt in any company by disclaiming the shares as one…
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Insolvency Act CAP 53▤
Bankruptcy trustee may transfer shares and other securities
(1) The bankruptcy trustee may transfer the following property belonging to the bankrupt in the same way as the bankrupt could hav…
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Insolvency Act CAP 53▤
Bankruptcy trustee cannot claim interest in land if bankrupt remains in possession until discharge
(1) The bankruptcy trustee cannot, after the bankrupt's discharge, claim an interest in land to which section 123(1) applies and f…
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Insolvency Act CAP 53▤
Transmission of interest in land
(1) This section applies to an interest in land that— (a) is owned by the bankrupt; (b) is subject to a mortgage or a charge; and…
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Insolvency Act CAP 53▤
Liability for rentcharge on bankrupt's land after disclaimer
(1) If land disclaimed by the bankruptcy trustee is subject to a rentcharge, the vesting of that land in any other person (includi…
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Insolvency Act CAP 53▤
Bankruptcy trustee may be required to elect whether to disclaim
The bankruptcy trustee loses the right to disclaim onerous property if— (a) a person whose rights would be affected by the disclai…
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Insolvency Act CAP 53▤
Position of person who suffers loss as result of disclaimer
(1) A person who sustains loss or damage as a result of disclaimer by the bankruptcy trustee may— (a) claim as a creditor in the b…
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Insolvency Act CAP 53▤
Effect of disclaimer
A disclaimer by the bankruptcy trustee— (a) terminates, on and from the date of the disclaimer, the rights, interests, and liabili…
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Insolvency Act CAP 53▤
Bankruptcy trustee may disclaim onerous property
(1) The bankruptcy trustee may disclaim onerous property, subject to section 121. (2) Subsection (1) applies even if the bankruptc…
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Insolvency Act CAP 53▤
Bankruptcy trustee's interest in property passes to transferee
If the bankruptcy trustee's interest in property is acquired by or passes to a bankrupt after bankruptcy has commenced— (a) the ba…
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Insolvency Act CAP 53▤
When execution or attachment completed for purposes of sections 109 and 115
For the purposes of sections 109 and 115— (a) an execution against goods is completed by seizure and sale; (b) an attachment of a…
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Insolvency Act CAP 53▤
Executions and attachments in good faith
If a bankrupt acquires property, or property passes to a bankrupt, after the bankruptcy has commenced, an execution or attachment…
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Insolvency Act CAP 53▤
Transaction in good faith and for value after bankruptcy
(1) This section applies to a transaction between a person and the bankrupt in relation to property that the bankrupt has acquired…
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Insolvency Act CAP 53▤
Court may set aside rights conferred on bankruptcy trustee
(1) An execution creditor may make an application to the Court for an order setting aside the rights of the bankruptcy trustee und…
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Insolvency Act CAP 53▤
Purchaser under sale by judicial enforcement officer acquires good title
On the sale by the judicial enforcement officer of a debtor's property on which execution has been levied, the purchaser, if actin…
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Insolvency Act CAP 53▤
Judicial enforcement officer to retain proceeds of execution for fourteen days after sale
(1) This section applies if, under execution of a judgment for an amount exceeding ten thousand shillings, the judicial enforcemen…
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Insolvency Act CAP 53▤
Effect of notice to judicial enforcement officer of bankruptcy
(1) This section applies if a judicial enforcement officer who has taken the property of a debtor in execution is served with noti…
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Insolvency Act CAP 53▤
When execution creditor may retain execution proceeds
(1) This section applies if a bankruptcy order has been made in respect of a debtor but, before the order was made, a creditor has…
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Insolvency Act CAP 53▤
Certain payments to be applied in accordance with the Second Schedule
The bankruptcy trustee shall apply the following payments in accordance with the Second Schedule (Priority of payments to preferen…
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Insolvency Act CAP 53▤
Court may order money due to bankrupt to be assigned to bankruptcy trustee
(1) If a bankruptcy trustee considers it necessary to do so, the bankruptcy trustee may apply to the Court for an order under subs…
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Insolvency Act CAP 53▤
Property held in trust by bankrupt
Property held by the bankrupt in trust for another person vests in the bankruptcy trustee, who shall assume control of the propert…
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Insolvency Act CAP 53▤
Property vests in replacement bankruptcy trustee
If the bankruptcy trustee is replaced, the property and powers vested in the former bankruptcy trustee under this Act vest in the…
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Insolvency Act CAP 53▤
Status of property acquired during bankruptcy
(1) Until the bankrupt is discharged— (a) all property (whether in or outside Kenya) that the bankrupt acquires or that passes to…
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