ADVOKS GLOBAL · KENYA
Insolvency Act
276. Creditors may accept composition by passing preliminary resolution
Edition: 2022-12-31 · In force
276. Creditors may accept composition by passing preliminary resolution
(1)The creditors of a bankrupt may accept a composition in satisfaction of the debts due to them from the bankrupt by passing a special resolution that contains the terms of the composition.(2)If there is more than one class of creditors, the delay of one class in accepting, or the failure of one class to accept, does not prevent any other of the classes from accepting the composition.