Insolvency Act

139. How joint and separate estates are to be applied

Edition: 2022-12-31 · In force

139. How joint and separate estates are to be applied

(1)When two or more persons have been adjudged bankrupt jointly, the bankruptcy trustee shall first apply—

(a)the joint estate to the debts due by the bankrupts jointly; and

(b)the separate estate of each bankrupt to the debts of that bankrupt.

(2)The bankruptcy trustee shall then—

(a)apply any surplus in the joint estate to the separate estate of each bankrupt in proportion to the interest of each bankrupt in the joint estate; and

(b)credit any surplus in the separate estate of a bankrupt to the joint estate.

Division 14 — Duties of bankrupt

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Source: Kenya Law