Insolvency Act

253. Final meeting of creditors

Edition: 2022-12-31 · In force

253. Final meeting of creditors

(1)Subject to this section, if—

(a)it appears to the bankruptcy trustee that the administration of the bankrupt's estate in accordance with this Division is for practical purposes complete; and

(b)the bankruptcy trustee is not the Official Receiver, the bankruptcy trustee shall summon a final general meeting of the bankrupt's creditors.

(2)The final general meeting of the bankrupt's creditors shall—

(a)receive and consider the bankruptcy trustee's report of the administration of the bankrupt's estate; and

(b)determine whether the bankruptcy trustee should be released under section 77.

(3)The bankruptcy trustee may give the notice summoning the final general meeting at the same time as giving notice under section 252(1).

(4)If the final general meeting is summoned for an earlier date, the bankruptcy trustee shall adjourn the meeting (and, if necessary, further adjourn the meeting) until a date on which the bankruptcy trustee is able to report to the meeting that the administration of the bankrupt's estate is for practical purposes complete.

(5)In the administration of the estate it is the bankruptcy trustee's duty to retain sufficient sums from the estate to cover the expenses of summoning and holding the final general meeting.

(6)If—

(a)the bankrupt's estate property consists of or includes an interest in a dwelling house that is occupied by the bankrupt or the bankrupt's spouse or former spouse; and

(b)the bankruptcy trustee has for any reason been unable to realise that property,the bankruptcy trustee may not summon a final general meeting unless one of the following has been satisfied:

(c)the Court has made an order under section 143 imposing a charge on that property for the benefit of the bankrupt's estate;

(d)the Court has declined, on an application under that section, to make such an order;

(e)the Attorney-General has issued a certificate to the bankruptcy trustee stating that it would be inappropriate for such an application to be made.

Division 22 — Discharge of Bankrupt from Bankruptcy

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Source: Kenya Law