| Reference : Like a Phoenix from the Ashes of Insolvency: An Appraisal of the Rescue Culture of th... |
| Scientific journals : Article | |||
| Law, criminology & political science : Economic & commercial law | |||
| Law / European Law | |||
| http://hdl.handle.net/10993/52376 | |||
| Like a Phoenix from the Ashes of Insolvency: An Appraisal of the Rescue Culture of the Kenyan Insolvency Act of 2015 | |
| English | |
Lichuma, Caroline Omari  [Georg-August-Universität Göttingen > Institute of International and European Law] | |
| Shako, Florence [Mitullah Shako & Associates] | |
| Oct-2020 | |
| East African Community, Law Journal | |
| EAC Secretariat, | |
| 1 | |
| 1 | |
| 33-50 | |
| Yes | |
| International | |
| Arusha | |
| Tanzania | |
| [en] Insolvency Act 2015 ; Corporate Insolvency ; Personal Insolvency | |
| [en] Caroline Lichuma and Florence Shako posit that the goal of any modern insolvency regime
is to salvage financially viable companies or to provide individuals in financial distress with breathing room without or before subjecting them to the liquidation or bankruptcy processes. The application of the Insolvency Act 2015 and the accompanying Insolvency Regulations of 2016, they note, is bound to have a more than positive change in the Kenyan insolvency regime. In that context, the rescue procedures should be adequately utilized in order to ensure a lasting change in the administration of the insolvency regime in Kenya. It is hoped that there will be no need to be ‘rescued from rescue’ procedures as a result of misuse or abuse of these mechanisms. They convey optimistsm that under the aegis of this fortified rescue culture, many deserving debtors in Kenya, especially companies worth saving, will live on to trade and enrich the country. | |
| Researchers ; Professionals ; Students ; General public ; Others | |
| http://hdl.handle.net/10993/52376 | |
| http://repository.eac.int/bitstream/handle/11671/24076/EAST%20AFRICA%20LAW%20JOURNAL%201%20-%20Final.pdf?sequence=1&isAllowed=y |
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