INSOLVENCY LAWS What to consider while applying for insolvency The Insolvency Act N0.18 of 2015 did revolutionize the State laws on bankruptcy. The key objectives of the laws being; To secure an equitable distribution of the debtor's property among creditors To relieve the debtor of his liabilities APPLICATION BY A DEBTOR FOR A BANKRUPTCY ORDER: Under Sec 32 of the Act, a debtor can apply for a bankruptcy order because of his inability to pay debts. This application should be accompanied by the debtors financial position indicating the nature of assets and liabilities. The Key requirement is to notify Creditors of the application through publication in a paper of nationwide circulation and in the Kenya Gazette to allow objections before its hearing. WHAT TO AVOID AS DEBTORS IN BANKRUPTCY PROCEEDINGS. It is noteworthy that bankruptcy is seen as the last resort because it has grave consequences for debtors and creditors. When going to court for orders for bankruptcy you must o...
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THE CONCEPT AND BENEFITS OF REAL ESTATE INVESTMENTTRUSTS (REITS) These are regulated investment channels allowing collective real estate investment. Investors come together and pool funds in a trust to earn profits or income from real estate. REITS source funds to acquire and generate income from real estate assets. REITs are regulated by the Capital Markets(Real Estate Investment Trusts)(Collective Investment Schemes) Regulations 2013. Under Regulation 8, REITS are categorized into: - Development Real Estate Investment Trusts(D-REITS) - Here, the trustees acquire Land, develop it, and sell it at a profit. - Income Real Estate Investment Trusts (I-REITS)- The Trusts acquires already developed property, or develop it for purp...