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{
    "id": 973622,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/973622/?format=api",
    "text_counter": 170,
    "type": "speech",
    "speaker_name": "Baringo North, JP",
    "speaker_title": "Hon. William Cheptumo",
    "speaker": {
        "id": 50,
        "legal_name": "William Cheptumo Kipkiror",
        "slug": "william-kipkiror"
    },
    "content": " Thank you Hon. Chairman. I oppose the Memorandum by the President. The essence of this amendment seeks to provide that in case of default by the principle borrower, then the bank or the creditor should first realise the assets of the borrower before you pursue the guarantor. Kenyans have suffered under this law. What has been happening is that banks, upon default by a borrower, do not bother to follow the borrower but, instead, they pursue the assets of the guarantor. That is the position in our law today. So, this amendment was to protect the interest of guarantors from those borrowers who have assets and, sometimes, conspire with creditors to defeat the realisation of their property."
}