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{
    "id": 575930,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/575930/?format=api",
    "text_counter": 68,
    "type": "speech",
    "speaker_name": "Hon. (Dr.) Shaban",
    "speaker_title": "",
    "speaker": {
        "id": 139,
        "legal_name": "Naomi Namsi Shaban",
        "slug": "naomi-shaban"
    },
    "content": "Thank you, hon. Deputy Speaker. I beg to reply. This Insolvency Bill is going to solve a lot of problems in this country. I take this opportunity to thank all the Members for their contributions and more so, for recognizing that this Bill is long overdue. No wonder it has so many sections that are going to straighten out the issues which have been bothering people, especially those who have been doing business. The United Nations Commission on International Trade Law has been in place and in Kenya we have not domesticated it. We have not used it for the benefit of our people. This Bill seeks to deal with cross-border insolvency and businesses which have had big problems over the years. If this Bill is passed, it is going to repeal the Bankruptcy Act Cap. 53, which has been trying to deal with matters relating to insolvency and yet, really not dealing with them. It has been a source of many problems and many cries in this country. This Bill has outlined ways of dealing with trustees and administrators who have always taken over to deal with the issues of people who are deceased, those who were declared insolvent and people who have had many issues at the time of their demise. It will ensure that people who are left behind are actually helped by the law to deal with the businesses that have been left behind and, more so, when those companies have been left with a lot of problems. Over the years, we have seen partners of people who have died taking off with everything upon the death of their partners without worrying about the people who have been left behind and how the issues of the deceased are going to be settled. When this Bill becomes law, it will set out the way things are going to be dealt with systematically. Issues of insolvency are going to be dealt with within the law. Hon. Deputy Speaker, I beg to reply."
}