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Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Legal Developments Worldwide

Articles contributed by Muthaura Mugambi Ayugi & Njonjo Advocates

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Court of Appeal Sounds Warning to Kenyan Banks Over Title Deed Forgery Syndicate

August 2018 - Finance. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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The Commercial Bank of Africa Ltd (CBA) has obtained a conservatory order at the Court of Appeal in Nairobi (the Court) restraining the Cooperative Bank of Kenya Ltd (Co-op Bank), Equity Bank Ltd (Equity), the Chief Land Registrar and other named Respondents from disposing or dealing in any way with a property in Riruta (the Property) pending the hearing and final determination of an intended appeal from the decision of the Environment & Land Court allowing Co-op bank to exercise its statutory power of sale as a first chargee of the Property.

The Unclaimed Financial Assets Act: Revisited

August 2018 - Finance. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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Prior to the enactment of the Unclaimed Financial Assets Act No.40 of 2011, (“the Act”) unclaimed financial assets were left under the control of the various holders or such entities where such assets were held.  With the operation of the Act, all entities are required to report, trace and deposit any unclaimed financial assets with the Unclaimed Financial Assets Authority (the “Authority”).

Creating a Bigger Pie or Golden Handcuffs? Employee Share Ownership Plans in Kenya

June 2018 - Employment. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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A substantial number of companies have recently installed employee share ownership plans (ESOP). Little is known, however, about how such arrangements work.

Competition Authority Dawn Raids: A Survival Guide

June 2018 - EU & Competition. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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1. Legal Context

Competition law is the law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies or businesses.

Blockchain Technology and its Role in Real Estate Transactions

June 2018 - TMT ( Technology, Media & Telecoms). Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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The growth and popularity of blockchain technology is at an all-time global high and does not appear to be slowing down anytime soon. Courtesy of the versatility of its use and application, blockchain technology may have a newfound utility in the future management and registration of land transactions in Kenya. This is according to ICT Cabinet Secretary, Joe Mucheru.

The African Continental Free Trade Area: Towards Increasing Intra-African Trade

May 2018 - Corporate & Commercial. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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Introduction

According to the Organisation for Economic Co-operation and Development (OECD), a free trade area (FTA) is a grouping of countries within which tariffs and non-tariff trade barriers between the members are generally abolished but with no common trade policy toward non-members. The World Trade Organisation (WTO) describes it as thus: ‘trade within the group is duty free but members set their own tariffs on imports from non-members’. Tariffs are generally taxes imposed on imports. Examples of existing FTAs are the North American Free Trade Area (NAFTA) and the European Free Trade Association (EFTA).

Land Information Management System (LIMS)

May 2018 - Real estate and construction. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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The Ministry of Lands is mandated to administer land through efficient administration, equitable access, secure tenure and sustainable management of land resources.

Creating a Bigger Pie or Golden Handcuffs? Employee Share Ownership Plans in Kenya

May 2018 - Corporate & Commercial. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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Tips to Consider When Setting Up an Employee Share Ownership Plan

A substantial number of companies have recently installed employee share ownership plans (ESOP). Little is known, however, about how such arrangements work.

Revenue Sharing: A General Overview, its Benefits and Shortcomings in Leasing Malls and Retail Shops

April 2018 - Finance. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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Revenue sharing is the use of profits to enable separate actors develop efficiencies or innovate in mutually beneficial ways. There are many ways the revenue sharing concept is structured with the objective being sharing of revenue profits and losses between various parties. Revenue sharing is practiced widely in sports, manufacturing industries, advertising industries, private companies and malls/retail shopping centers. The International markets are embracing the concept of revenue sharing or turnover rent.

Flying Commercial Drones Now Legal in Kenya

April 2018 - TMT ( Technology, Media & Telecoms). Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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On 6th October 2017, the government published the Civil Aviation (Remotely Piloted Systems) Regulations, 2017 which provide the legal framework for the use of Remotely Piloted Aircraft Systems, popularly known as drones in Kenya. Entrepreneurs and investors therefore have the opportunity to tap into a market which a PwC report estimates to be valued at over USD 127 Billion globally in such sectors as infrastructure, agriculture, transport, security, mining, security, media and entertainment amongst others. Already, African countries such as South Africa, Morocco, Cameroon, Rwanda and Malawi are exploring drone enterprises in these sectors.

Demystifying the Holding of Purchase Price On Stakeholders Basis

April 2018 - Corporate & Commercial. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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The bone of contention between parties when selling or purchasing any piece of land is to whom the Purchase Price (deposit and/or balance) shall be paid pending transfer of the property into the purchaser’s name.

Surviving Tough Times: Is a Scheme of Arrangement

April 2018 - Corporate & Commercial. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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The Solution?

The just concluded capital restructuring of national carrier Kenya Airways PLC, part of which involved twelve of its most significant creditors (the Government of Kenya and eleven commercial banks), is an interesting illustration of one kind of corporate restructuring available to struggling companies under the Companies Act, 2015.

6 Quick Points on Mergers in Kenya

April 2018 - Corporate & Commercial. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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Mergers and Acquisitions is an interesting and vibrant practice that is emerging in Kenya. It is reported that Kenya ranked 4th overall in Africa after South, Nigeria and Ghana as the most sought after country for foreign investors for mergers with local firms/companies. The following is a brief write up on mergers in Kenya

Plastic Bags Ban in Kenya: A Gold Mine of Opportunities

April 2018 - Projects, Energy & Natural Resources . Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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The ban

Marine and environmental pollution by plastic material has for several years been a global concern. The United Nation Environmental Programme’s (UNEP) initiative dubbed the “#CleanSeas campaign”, among others, urges governments to pass plastic reduction policies.  In August 2017, Kenya became the 11th country to embrace the campaign by enacting a ban on plastic bag and imposing the stiffest penalties in the world.  The ban outlaws the use, manufacture and importation of all plastic bags used for commercial and household packaging.

Keeping disputes out of Court
Mediation gaining ground in Kenya

April 2018 - Litigation & Dispute Resolution. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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When you hear Alternative Dispute Resolution commonly referred to as ADR, the first thought that comes to mind is settling a dispute outside the Courtroom, which is correct. The typical ADR processes include: Arbitration, Negotiation, Mediation and Conciliation. It would be great to enlighten you on all four processes but the focus of this article will be Mediation.

Linking your Business to the eCitizen Portal

April 2018 - Corporate & Commercial. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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With the introduction and recent operationalization of the Business Registration Services (BRS) by the Companies Registry, all applications relating to:

Legal Development: The National Land Commission (Investigation of Historical Land Injustices) Regula

April 2018 - Real estate and construction. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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The Constitution of Kenya mandates the National Land Commission ("Commission") to initiate investigation on its own initiative or on a complaint into historical land injustices and recommend appropriate redress.

Bankrupt Spouse What You Need to Know

April 2018 - Litigation & Dispute Resolution. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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Bankruptcy is a legal method of eliminating debt and providing a means for debt oppressed people to obtain a ‘fresh start’. Simply put bankruptcy means the elimination of the debt one owes to the creditor

Creditors’ Rights: Possible Recovery Avenues for Creditors

April 2018 - Corporate & Commercial. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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Introduction

The current financial tribulations experienced by market leaders such as Nakumatt and Kenya Airways reveal a disturbing trend for employees, lenders, and the suppliers of goods or services. Failing businesses are increasingly flouting reporting and management rules and norms, leaving creditors in the unfortunate situation of pursuing payments for goods already delivered or services rendered from the crumbling businesses.

Disclosure Of Beneficial Ownership Of Companies: Implications For Private Equity

April 2018 - Corporate & Commercial. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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The Financial Action Task Force on Money Laundering (FATF)[1] through its Recommendation 24 on transparency and beneficial ownership of legal persons, calls on its member states to take measures to prevent the misuse of legal persons for money laundering or terrorist financing. It provides that countries should ensure that there is adequate, accurate and timely information on the beneficial ownership and control of legal persons.

Employment: Surviving Hard Times with or Without Employees

April 2018 - Employment. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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The Kenyan economy has over the last couple of years suffered numerous shocks such as the global economic and financial crisis and high inflation rates. Organizational restructuring can be considered inevitable for any company to survive with the changing times.

Basic Foundations of Personal Trusts

April 2018 - Corporate & Commercial. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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There have been several attempts to give a holistic definition of a trust. It is worth noting that, within a single trust there can be several sub trusts. In accordance to Underhill in his book “Law of Trusts and Trustees” he defines a trust as “an equitable obligation binding a person (Trustee) to deal with property over which he has control (Trust Property) either for the benefit of persons (beneficiaries) of whom he may himself be one and any one of whom may enforce the obligation.”

The Companies Act 2015, Part II: Director's General Duties - Greater Responsibility and Even Greater

April 2018 - Corporate & Commercial. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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The new Companies Act 2015 has gone to great lengths to usher in reforms particularly in the management of companies by clarifying the duties of directors, identifying actions to determine their unfitness for their role and penalties for the breach of their duties either by action or inaction on their part. A director now must not only grasp the new duties owed by a director under the Act but also comprehend the consequences of breaching these duties.

The Companies Act 2015, Part I: The Game Changer

April 2018 - Corporate & Commercial. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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The Companies Act 2015 (the “Act”) was published on 18th September 2015 and will eventually replace the previous Companies Act which had been in place for over 50 years[1].  The Act is one amongst other statutes including the Insolvency Act 2015[2] recently enacted for the purpose of modernizing the laws regulating Kenya’s business environment. The Act aims to:

But It’s My Land! – Ways Through Which the Right to Land Can Be Lost

April 2018 - Real estate and construction. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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The ambers of the often emotive and confrontational issues relating to land ownership and land use in Kenya lingers on.

The Companies Act 2015, Part III: Shareholder Gains & Management Oversight

April 2018 - Corporate & Commercial. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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Several changes have been introduced by the Companies Act 2015 that will impact greatly on shareholders. The changes seek to combat shareholder apathy particularly in decision making in public companies, provide greater access to corporate information to enhance transparency, embrace the benefits of the digital era in communication to shareholders and regulatory procedures. More importantly, the Act seeks to balance the rights of shareholders as owners, and the duties of directors as managers of the company whose loyalty is to the company and not a single shareholder.

Category 1 Status: A Milestone For Kenya’s Airspace

April 2018 - Transport. Legal Developments by Muthaura Mugambi Ayugi & Njonjo Advocates.

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On 27th February 2017, Kenya was granted Category 1 status by the Federal Aviation Authority of the United States of America hence paving the way for direct flights between the two countries. A Category 1 status rating means that the Kenya Civil Aviation Authority (KCAA) meets International Civil Aviation Organisation (ICAO) standards. The country has been granted the status after complying with international safety standards under the agency’s International Aviation Safety Assessment (IASA) program.