Towards adoption of the United Nations Commission on International Trade Law Model Law on cross-border insolvency in Kenya

Authors


  • The author is grateful to Professor Rebecca Parry and Professor David Burdette of Nottingham Law School, Nottingham Trent University and Professor Adrian Walters of Illinois Institute of Technology Chicago-Kent College of Law for their most helpful comments and inspiration in earlier drafts.

Abstract

Kenyan Insolvency Bill has been in the Kenyan government website since 2010. The analysis of the Bill reveals that if it were to be passed into law, it will have significant implications for the Kenyan insolvency legal regime. The regime which is currently in use is based on the law that was inherited from the colonial administration. This review article focusses on the potential implication that the Bill is, if it were to be passed into law, likely to have for cross-border insolvency reform and proceedings. The analysis is informed by the international insolvency benchmarks, particularly the United Nations Commission on International Trade Law Model Law on cross-border insolvency and the emerging trends of its adoption in various countries including in sub-Saharan Africa. Copyright © 2013 INSOL International and John Wiley & Sons, Ltd

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