Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 40834,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/40834/?format=api",
    "text_counter": 323,
    "type": "speech",
    "speaker_name": "Mr. Mbadi",
    "speaker_title": "",
    "speaker": {
        "id": 110,
        "legal_name": "John Mbadi Ng'ong'o",
        "slug": "john-mbadi"
    },
    "content": "into receivership, that is like a death sentence for that company. Instead of managers, liquidators and receiver managers trying to help the company come out of the financial distress, they have been profiting from the assets of the company. The fact that the company is not able to meet its obligations as and when they fall due does not necessarily mean that, that company has no capacity to rise again and stand on its feet. Therefore, we have looked for a set of laws that will help clarify and provide a systematic way in which a company that is in financial distress can get out of it. We should be looking for ways of helping companies stand on their feet. That is why I am happy that, at least, in this Insolvency Bill, when you look through it, it has provided mechanisms of identifying and prosecuting managers or directors whose illegal actions contribute to the insolvency of a firm. That, to me, is very important. It is important that if the directors and managers commit acts that drive a company into insolvency, we should not just wind up that company, but punish the responsible managers and directors. That is because they have what one would call agency-principal relationship. If the agent fails, the principal should crack the whip."
}