ADVOKS GLOBAL · KENYA
Insolvency Act
34. Action on report of insolvency practitioner
Edition: 2022-12-31 · In force
34. Action on report of insolvency practitioner
(1)The insolvency practitioner appointed under section 33 shall—(a)inquire into the debtor's financial affairs; and(b)within such period as the Court may specify, submit a report to the Court stating whether the debtor is willing to make a proposal for a voluntary arrangement in accordance with Division 1 of Part IV.(2)If the insolvency practitioner proposes to state that the debtor is willing to make such a proposal, that practitioner shall also state—(a)whether, in his or her opinion, a meeting of the debtor's creditors should be convened to consider the proposal; and(b)if, in that practitioner's opinion such a meeting should be convened—the date on which, and time and place at which, the meeting should be held.(3)On considering a report submitted under this subsection (1), the Court may—(a)without any application, make an interim order under section 306, if it considers it appropriate to do so for the purposes of facilitating the consideration and implementation of the debtor's proposal; or(b)if it considers it would be inappropriate to make such an order—make a bankruptcy order in respect of the applicant.(4)An interim order made in accordance with subsection (3)(a) ceases to have effect at the end of such period as the Court may specify for the purpose of enabling the debtor's proposal to be considered by the debtor's creditors in accordance with the applicable provisions of Division I of Part IV.(5)If the insolvency practitioner has proposed in the report that a meeting of the debtor's creditors should be convened, the insolvency practitioner shall, unless the Court otherwise directs, convene such a meeting for the time, date and place proposed in the report.(6)Such a meeting is to be taken to have been convened under section 309 in which case subsections (2) and (3) of that section and sections 309 to 314 apply to the meeting.