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.
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
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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Substantial Amendments To Egypt’s Companies Act
A new law is issued in Egypt to amend the Joint Stock Companies, Partnerships Limited by Shares and Limited liability Companies, known as the Companies Act no. 159 of 1981 (the "Law"). The amendments are effective as of 17 January 2018. This report will summarize the main amendments introduced.
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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Employment: Surviving Hard Times with or Without Employees
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
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 …
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.