ADVOKS GLOBAL · KENYA
Insolvency Act
158. Bankrupt prohibited from taking steps to defeat beneficial interests of others in bankrupt's property
Edition: 2022-12-31 · In force
158. Bankrupt prohibited from taking steps to defeat beneficial interests of others in bankrupt's property
(1)After the bankruptcy has commenced, the bankrupt may not execute a power of appointment, or any other power vested in the bankrupt, if the result would be to defeat or destroy any contingent or other estate or interest in any property to which the bankrupt may otherwise be beneficially entitled at any time before the bankrupt's discharge.(2)The restriction on the bankrupt in subsection (1) applies—(a)both before and after the bankrupt obtains a discharge; and(b)subject to sections 114 and 115 (transactions entered into in good faith).