ADVOKS GLOBAL · KENYA
Insolvency Act
640. Companies under administration, etc., ineligible to obtain moratorium
Edition: 2022-12-31 · In force
640. Companies under administration, etc., ineligible to obtain moratorium
(1)The following companies are also ineligible companies for the purpose of section 638—(a)a company that is under administration;(b)a company that is in liquidation;(c)a company in respect of which a voluntary arrangement already has effect;(d)a company in respect of which a provisional liquidator is appointed;(e)a company in respect of which a moratorium has had effect at any time during the twelve months ending with the lodgement date and-(f)a company in respect of which an administrator appointed under section 541 held office during the twelve months immediately preceding the lodgement date;(g)a company in respect of which a voluntary arrangement had been in effect ended prematurely and, during the twelve months immediately preceding the lodgement date, an order under section 630(5)(a) has been made;(h)a company in respect of which an administrative receiver is appointed.(2)Subsection (1)(b) does not apply to a company that, because of a liquidation order made after the lodgment date, is heated as in liquidation on that date.