Demystifying the Holding of Purchase Price On Stakeholders Basis
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.
Disclosure Of Beneficial Ownership Of Companies: Implications For Private Equity
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 …
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Creditors’ Rights: Possible Recovery Avenues for Creditors
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 …
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Bankrupt Spouse What You Need to Know
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
Legal Development: The National Land Commission (Investigation of Historical Land Injustices) Regula
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.
Linking your Business to the eCitizen Portal
With the introduction and recent operationalization of the Business Registration Services (BRS) by the Companies Registry, all applications relating to:
Keeping disputes out of Court…Mediation gaining ground in Kenya
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 …
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Plastic Bags Ban in Kenya: A Gold Mine of Opportunities
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 …
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6 Quick Points on Mergers in Kenya
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
Surviving Tough Times: Is a Scheme of Arrangement
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.