Insolvency Act CAP 53▤
Exercise by Cabinet Secretary of functions of creditor's committee
(1) A creditors' committee may not perform its functions if at any time the Official Receiver is bankruptcy trustee in respect of…
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727 results · Insolvency Act CAP 53
Insolvency Act CAP 53▤
Committee of creditors may be established
(1) A general meeting of the creditors of a bankrupt may establish a creditors' committee to perform the functions conferred on it…
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Insolvency Act CAP 53▤
Creditors' right to inspect documents
A creditor who has lodged a creditor's claim, or an advocate or a certified public accountant who is acting for the creditor, is e…
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Insolvency Act CAP 53▤
Creditors may appoint expert or committee to assist bankruptcy trustee
(1) A creditors' meeting may pass an ordinary resolution— (a) appointing an expert to assist the bankruptcy trustee in the adminis…
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Insolvency Act CAP 53▤
Entitlement of partner's creditor to prove debt at creditors' meeting
The bankruptcy of a partner of a firm who is indebted to a creditor jointly with one or more of the other partners entitles the cr…
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Insolvency Act CAP 53▤
Person disqualified from voting at creditor's meeting through preferential effect
(1) A person is not entitled to vote in favour of a resolution that would, if passed, directly or indirectly enable that person or…
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Insolvency Act CAP 53▤
When creditor under bill of exchange or promissory note may vote at creditors' meeting
(1) A debt on, or secured by, a current bill of exchange or promissory note entitles the creditor to vote only if the creditor is…
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Insolvency Act CAP 53▤
When secured creditor may vote at creditors' meeting
A debt that is secured only entitles the creditor to vote at a creditors' meeting if the creditor has— (a) surrendered the charge;…
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Insolvency Act CAP 53▤
Who may vote at creditors' meeting
Creditors of the bankrupt who are entitled to vote, or their representatives, may vote at a creditors' meeting, but this rule is s…
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Insolvency Act CAP 53▤
What votes can be counted for passing of resolutions at creditors' meeting
(1) A creditor who is entitled to vote at a creditors' meeting may vote on a resolution to be put to the meeting— (a) by postal vo…
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Insolvency Act CAP 53▤
Passing of resolutions at creditors' meetings
(1) At a creditors' meeting— (a) an ordinary resolution is passed if a majority in number and value of the creditors, or their pro…
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Insolvency Act CAP 53▤
Who can represent creditors and bankrupt at creditors' meeting
(1) Any of the following persons may represent a creditor at a creditors' meeting— (a) an advocate; (b) a certified public account…
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Insolvency Act CAP 53▤
Number of persons required for creditors' meeting to be valid
(1) A creditors' meeting is not valid unless at least the following persons attend— (a) the bankruptcy trustee or a person who rep…
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Insolvency Act CAP 53▤
Minutes and record of creditors' meeting
(1) The bankruptcy trustee shall ensure that minutes are kept of each creditors' meeting. (2) The minutes are invalid unless signe…
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Insolvency Act CAP 53▤
Attendance at creditors' meeting by non-creditors
A person who is not a creditor of the bankrupt may attend a creditors' meeting with the consent of— (a) the bankruptcy trustee; or…
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Insolvency Act CAP 53▤
Bankrupt may be required to attend creditors' meeting and be questioned
(1) The bankrupt shall, if required by the bankruptcy trustee, attend all creditors' meetings by being physically present or prese…
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Insolvency Act CAP 53▤
Who can attend creditors' meeting
(1) A person may attend a creditors' meeting— (a) by being physically present at the time, date and place appointed for the meetin…
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Insolvency Act CAP 53▤
Bankruptcy trustee to report to creditors' meeting
If the bankruptcy trustee attends a creditors' meeting or an adjournment of the meeting, the bankruptcy trustee shall— (a) report…
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Insolvency Act CAP 53▤
Power of Chairperson to adjourn creditors' meeting
The Chairperson of a creditors' meeting may adjourn the meeting from time to time and place to place.
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Insolvency Act CAP 53▤
Appointment of Chairperson to conduct creditor’s' meetings
(1) The Chairperson of a creditors' meeting is the bankruptcy trustee or a person appointed by the bankruptcy trustee to be the Ch…
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Insolvency Act CAP 53▤
Meeting and resolution not defective for lack of notice
A meeting of creditors convened by notice to creditors, and a resolution passed at the meeting, is valid even if some creditors ma…
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Insolvency Act CAP 53▤
Subsequent meetings of creditors
(1) The bankruptcy trustee may at any time convene a meeting of creditors after the first meeting of creditors. (2) The bankruptcy…
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Insolvency Act CAP 53▤
Kinds of creditors' meetings
There are two kinds of creditors' meetings— (a) the first meeting of creditors; and (b) subsequent creditors' meetings.
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Insolvency Act CAP 53▤
Liability of bankruptcy trustee for misapplication of money, etc.
(1) Any of the following persons make an application to the Court for an order under this section relating to a bankruptcy trustee…
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