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"id": 40838,
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"speaker_name": "Mr. Mbadi",
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"legal_name": "John Mbadi Ng'ong'o",
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"content": "way of helping companies and even individuals. We have individuals who run bankrupt. Suppose hon. Mbadi became bankrupt today? We know the consequences of that. How do we help him come out of it? Do we just condemn him and let him lose his parliamentary seat and that is the end of it? We need to look for ways of helping Kenyans because somebody or a company can get into financial distress for a number of reasons. Madam Temporary Deputy Speaker, I want to conclude my contribution by saying that, at times, there is no clear way of paying the creditors. Normally, you realize that when a company is liquidated, the receiver managers start by paying off politically- correct creditors. That is because we did not have a legal framework. Right now, with this Bill, it will be very clear. How do you settle the various creditors and liabilities? To me, this is a piece of legislation that I would entirely support. Madam Temporary Deputy Speaker, with those many remarks, I beg to support."
}