[2018] KEHC 595 (KLR)
The court found, based on the applicant's statement of affairs and unchallenged evidence, that the applicant was unable to service his debts, which amounted to over Kshs.46 million. No creditor appeared to oppose the petition or examine the debtor. The court was satisfied that the statutory requirements for a...
Source-derived case information.
- Citation
- [2018] KEHC 595 (KLR)
- Parties
- Applicant: John Waweru Wachiuri; Respondent: Stanbic Bank Kenya Limited; Respondent: Kenya Women Finance Trust; Respondent: Kenya Deposit Insurance Corporation
- Court
- High Court
- Court Station
- High Court at Nairobi (Milimani Commercial Courts)
- Jurisdiction
- Kenya
- Case Number
- Insolvency Cause 16 of 2018
- Procedural Posture
- Insolvency Cause / Judgment
- Outcome
- bankruptcy order granted
- Legal Topics
- Bankruptcy Petition, Insolvency Proceedings, Appointment of Official Receiver
- Source Language
- en
Source-derived case record
Summary, issues, holding and outcome
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Parties
John Waweru Wachiuri
Applicant
Stanbic Bank Kenya Limited
Respondent
Kenya Women Finance Trust
Respondent
Kenya Deposit Insurance Corporation
Respondent
Procedural Posture
Insolvency Cause / Judgment
Legal Issues
- 1 Whether the applicant is unable to pay his debts and qualifies for a bankruptcy order.
- 2 Whether the Official Receiver should be appointed as trustee of the estate.
Ratio Decidendi
The court found, based on the applicant's statement of affairs and unchallenged evidence, that the applicant was unable to service his debts, which amounted to over Kshs.46 million. No creditor appeared to oppose the petition or examine the debtor. The court was satisfied that the statutory requirements for a bankruptcy order had been met and accordingly allowed the petition, appointing the Official Receiver as trustee of the estate.
Court Disposition
bankruptcy order granted
Orders
- A bankruptcy order is hereby issued in respect of the estate of John Waweru Wachiuri.
- The Official Receiver is appointed as trustee of the bankrupt estate.
Full Case Text
Judgment text and source record
17 paragraphs
REPUBLIC OF KENYA
IN THE HIGH COURT OF KENYA AT NAIROBI
COMMERCIAL & TAX DIVISION
IN INSOLVENCY CAUSE NO.16 OF 2018
IN THE MATTER OF JOHN WAWERU WACHIURI
JUDGMENT
Before the court is the Petition dated 9th July 2018 filed by JOHN WAWERU WACHIURI (the debtor herein) seeking that a Bankruptcy order be made in respect of his estate. Attached to the Petition was the Petitioners statement of Affairs.
The Debtors petition was duly served upon the Official Receiver on 20th July 2018. The Notice of Bankruptcy Petition was advertised on 26th October 2018 in the Standard Newspapers and the said was served upon the Creditors being:-
- Stanbic Bank Kenya Limited.
- Kenya Women Finance Trust
- Kenya Deposit Insurance Corporation
as evidenced by the Affidavit of Service dated 1st November 2018, sworn by ALPHONCE M. MBINDYO an Advocate of the High Court of Kenya. The matter was listed for hearing on 2nd November 2018. I have seen the advertisement placed in the Standard Newspaper of 26th October 2018.
On the hearing date none of the Creditors appeared in court to examine the debtor. The Applicant/Debtor who appeared in person informed the court that he is a director of Waldrons Logistics and Transport Limited which currently has liabilities to the tune of Kshs.46, 832,467. 90. The Applicant/Debtor indicated that those liabilities arose from loan facilities taken in order to purchase trucks to run a transport business as well as a personal loan which he took from Barclays Bank. He indicated that the company was totally unable to service those debts and he has no other source of income with which to service the debts.
From the material available, the Statement of Affairs as well as evidence of the Applicant. I am satisfied that the Applicant/Debtor is unable to service his debts. Accordingly I do allow this bankruptcy Petition and direct that the Official Receiver be appointed as trustee of the estate.
Dated in Nairobi this 14thday ofDecember 2018
..............................................
Justice Maureen A. Odero