Insolvency Act

274. Effect of annulment of bankruptcy order

Edition: 2022-12-31 · In force

274. Effect of annulment of bankruptcy order

(1)On annulment of a bankruptcy order, all property of the bankrupt vested in the Official Receiver on bankruptcy and not sold or otherwise disposed of by the Official Receiver revests in the bankrupt without the need for a transfer.

(2)A contract, sale, disposition or payment duly made, or any action duly taken by the Official Receiver before the annulment—

(a)is not affected as to its validity by the annulment; and

(b)has effect as if no bankruptcy order had been made in respect of the bankrupt.

Division 24 — Composition during bankruptcy

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Source: Kenya Law