ADVOKS GLOBAL · KENYA
Insolvency Act
415. Property of company to be distributed among members after satisfaction of liabilities
Edition: 2022-12-31 · In force
415. Property of company to be distributed among members after satisfaction of liabilities
(1)On the liquidation, the company's property in the voluntary liquidation—(a)are to be applied in satisfaction of the company's liabilities equally and without preference; and(b)subject to that application, are, unless the company's articles otherwise provide, to be distributed among the members according to their rights and interests in the company.(2)Subsection (1) is subject to the provisions of this Act relating to preferential payments.