Wakoli Bifwoli

All parliamentary appearances

Entries 161 to 170 of 1336.

• 15 Jun 2011 in National Assembly: On a point of order, Mr. Deputy Speaker, Sir. Is the hon. Mbadi in order to say something about other people’s culture like bull fighting, and refer to an individual? Can he withdraw and apologise? view
• 14 Jun 2011 in National Assembly: Madam Temporary Deputy Speaker, I beg to reply. view
• 14 Jun 2011 in National Assembly: Madam Temporary Deputy Speaker, I want, first of all, to pay tribute to all those who have contributed very positively to this debate; Hon. Muriithi, who actually seconded me, hon. Mbadi, hon. Muthama and hon. Karua. They have clearly set out why this Bill is necessary. When I was moving the Bill, I stated that the laws that we have now as far as insolvency is concerned, if you look at that Act, if we enact this Bill, will be repealed. It actually came into force before all of us in this room were born. That was in September, 1930. ... view
• 14 Jun 2011 in National Assembly: Madam Temporary Deputy Speaker, the ills which both hon. Mbadi and hon. Karua referred to are real in that when a person or a company is declared bankrupt, to use the word of Mr. Mbadi, that was a death sentence, and to use the words of hon. Karua, that was really a golden fleecing on the part of the official receivers. When we had this order against a company or against an individual, the effect was not even to assist the creditors to be paid. The effect was to pay the official receivers. It paid them to continue for as ... view
• 14 Jun 2011 in National Assembly: Madam Temporary Deputy Speaker, we have a long record of a number of companies which have been put in receivership and which have taken a very long time under receivership. The Kenya National Assurance Company was quoted. We have the Rural Urban Credit, which was quoted. It has taken years and years. The creditors have not been paid, but the official receivers have been milking the assets of that company for their own benefits, hence the necessity for this Bill. view
• 14 Jun 2011 in National Assembly: Madam Temporary Deputy Speaker, as I stated earlier, this Bill took a long time in making. It was as a result of a taskforce I set up. It was composed of the stakeholders in the field who were feeling the pinch of the setting the companies in liquidation or view
• 14 Jun 2011 in National Assembly: declaring persons bankrupt. They undertook trips even to the United States of America, Australia, New Zealand, United Kingdom, in addition to our own neighbouring countries. They have come up with an excellent law. It is an excellent legislation that actually ties in with the best practices internationally. view
• 14 Jun 2011 in National Assembly: Madam Temporary Deputy Speaker, for example, in Clause 463, the United Nations Commission on International Trade Law, remodelled law cross border insolvency, we will have the force of law in this country, if we enact this Bill. So, this Bill takes into account the best practices in the world as of today. If we enact it today, it will be the best Bill in the world. I challenge anybody to say so. view
• 14 Jun 2011 in National Assembly: Madam Temporary Deputy Speaker, on issues about the offences, there are many offences both for the official receivers and the persons who has been declared bankrupt. It is clearly set out in this Bill. There is just a whole chapter on nothing, but offences that can be committed on either side. With regard to the directors in this country, we had a time when a family or somebody could form a company, get the money, channel that money like money laundering through that company and buy properties for the family and so, and leave the company to be declared bankrupt. ... view
• 14 Jun 2011 in National Assembly: With those few remarks, I beg to reply. view