ADVOKS GLOBAL · KENYA
Insolvency Act
516. Contributories in liquidation of unregistered company
Edition: 2022-12-31 · In force
516. Contributories in liquidation of unregistered company
(1)If an unregistered company is in liquidation, each person is a contributory who is liable—(a)to pay or contribute to the payment of any debt or liability of the company;(b)to pay or contribute to the payment of any amount for the adjustment of the rights of members among themselves; or(c)to pay or contribute to the payment of the expenses of liquidating the company.(2)Each contributory is liable to contribute to the company's assets all amounts due from the contributory in respect of the contributory is liable under subsection (1).