Aden Bare Duale

All parliamentary appearances

Entries 13211 to 13220 of 17810.

• 22 Oct 2014 in National Assembly: Hon. Speaker, Part VI of the Bill deals with the discharge of a bankrupt person three years after adjudication. It confers the right of objection on the creditor against the discharge of bankruptcy. It deals with rights of individuals as far as the discharge of a bankrupt is concerned. view
• 22 Oct 2014 in National Assembly: Part VII of the Bill relates to individual composition, proposals, summary, instalments, orders and outlines on asset procedures. view
• 22 Oct 2014 in National Assembly: Clauses 238 to 250 provide the process that a court will use in the execution of the deed of composition. Clauses 251 to 265 of the Bill provide for the manner in which an insolvent institution may make a proposal to creditors for payment of his debts and the procedure in meetings of creditors. It also deals with how trustees should call provisional meetings, the manner in which the court approves the proposal and its binding effect on the creditors. view
• 22 Oct 2014 in National Assembly: Hon. Speaker, Clauses 266 to 283 of the Bill provide for summary instalment orders to provide for the manner in which an application for an order may be made, how a variation should be made, how a discharge should be effected and how appointment of a supervisor shall be done. All this is aimed at ensuring compliance by the debtor with the same order. view
• 22 Oct 2014 in National Assembly: The part under Clauses 284 to 295 also outlines the criteria for, and the process of no-asset procedure on application of a debtor who has no realizable assets. This part outlines what should be done when the assets are not there. It also goes on to provide for the termination of no-asset procedure. It provides for what is to be done when there are no assets to trace, and the circumstances in which no-order asset traceability will be applied. view
• 22 Oct 2014 in National Assembly: Hon. Speaker, Part VIII of the Bill outlines the acts which constitute a bankruptcy offence where a court has made a bankruptcy order and prior to the discharge of the bankrupt person. This includes non-disclosure and the concealment of the property, fraudulent disposal or dealing with the property and failure to keep proper accounts. There are people who look for what we call “artificial bankruptcy”. They transfer all their camels and goats to their relatives, their many mistresses and many wives and declare themselves bankrupt. view
• 22 Oct 2014 in National Assembly: Clauses 423 and 424 relate to the proof and the ranking of claims and where a person declares himself bankrupt. view
• 22 Oct 2014 in National Assembly: Part VIII of the Bill outlines which acts constitute a bankruptcy offence; examples are where you do not make full closure, where consignment of property happens, or where there is fraudulent disposal or dealings with property. One morning I own half of Nairobi, and then in the afternoon, you are told that hon. A.B. Duale is bankrupt. This part deals with those kinds of people; who are many in our country. They will not run The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor. view
• 22 Oct 2014 in National Assembly: away. The problem is running away with shareholders’ money. That is why so many housing companies are collapsing. I am happy the Leader of Minority Party is here, because the Grand Coalition Government gave him a job to deal with some pyramids. He was chair of a taskforce. I am sure he knows how some characters behave when they want to run away with shareholders’ money. In his contribution, he should give us live examples of Kenyans who one morning wake and go away with all the money that people have toiled to acquire. Part X of the Bill provides ... view
• 22 Oct 2014 in National Assembly: Clause 338 of the Bill provides for the different modes of winding up. How does a company wind up? More specifically Clauses 343 to Clause 367 of the Bill before the House provide for the manner in which the winding up of a company may be conducted by a court. So, the court process and procedures are well documented. That provides even circumstances in which the winding up of a company may occur. These clauses provide for the dissolution of a company and subsequent release of liquidators. I have a problem with some of the words; I went to school ... view