ADVOKS GLOBAL · KENYA
Insolvency Act
136. Status of bankrupt's property on second bankruptcy
Edition: 2022-12-31 · In force
136. Status of bankrupt's property on second bankruptcy
(1)This section applies to and in respect of a bankrupt who, before discharge, is adjudged bankrupt for a second time.(2)Property that is acquired by, or has passed to, the bankrupt since the first bankruptcy (including property acquired or that has passed since the second bankruptcy) vests in the bankruptcy trustee in the second bankruptcy.(3)Despite subsection (2), the Court may, if it considers it appropriate to do so, order that all or part of the following assets or their proceeds vest in the bankruptcy trustee in the first bankruptcy—(a)assets in the second bankruptcy that, in the Court's opinion, were acquired independently of the creditors in the second bankruptcy;(b)assets in the second bankruptcy that devolved on the bankrupt.(4)A surplus in the second bankruptcy is an asset in the estate in the first bankruptcy, and is payable to the bankruptcy trustee in the first bankruptcy.(5)This section has effect despite section 104.