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.
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.
The Companies Act 2015, Part II: Director’s General Duties – Greater Responsibility and Even Greater
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 …
The Companies Act 2015, Part I: The Game Changer
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 …
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But It’s My Land! – Ways Through Which the Right to Land Can Be Lost
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
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, …
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Category 1 Status: A Milestone For Kenya’s Airspace
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 …
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