Debt Recovery Management KASNEB Notes

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CCP Advanced Level Notes

This paper is intended to equip the candidate with knowledge, skills and attitudes that will enable
him/her to effectively apply insolvency laws in debt recovery and management of debt recovery
work for a range of customers in line with legal, regulatory and industry frameworks.
A candidate who passes this paper should be able to:

  • Employ insolvency proceedings for recovery of debts effectively.
  • Advise on recovery of debts under partnerships dissolution.
  • Evaluate viability of recovery of debts through cross border insolvencies.
  • Evaluate commercial viability in closure of credit obligations.
  • Assess the options available in the recovery of debts.
  • Prepare for selected debt recovery actions and manage debt recovery procedures and
  1. Insolvency regimes and legal framework.
    1.1 Natural persons
    1.2 Partnerships
    1.3 Corporations – Artificial persons
    1.4 Cross-border insolvencies
    1.5 Debt (Summary Recovery) Act – Highlights
    1.6 Auctioneers Act – Highlights
  2. Insolvency of Natural persons
    2.1 Meaning – Insolvency and bankruptcy
    2.2 Nature of bankruptcy
    2.3 Bankruptcy proceedings
    2.4 Rights of creditors
    2.5 Consequences of bankruptcy
    2.6 Discharge of a bankrupt
  3. Alternatives to bankruptcy
    3.1 No asset procedure
    3.2 Summary Instalments order
    3.3 Voluntary Arrangements
    3.4 Proposal to Creditors
  4. Dissolution of Partnerships
    4.1 Break-up of a partnership and its effects of break-up
    4.2 Restriction of ceasing to be a partner on or after break-up
    4.3 Protection of property acquired after break-up
    4.4 Winding up by partners
    4.5 Distribution of partners’ assets on winding up
    4.6 Dissolution of a partnership which has broken up
    4.7 Appointment of the administrator and provisional liquidator
    4.8 Power of court to fix remuneration of receivers and managers
    4.9 Appointment of a receiver as liquidator
    4.10 Provisions relating to receiver or manager appointed

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  1. Corporate Insolvency
    5.1 Meaning of corporate insolvency
    5.2 Receivership
    5.3 Types of liquidation – Members’ voluntary, Creditors Voluntary and Liquidation by
    court order
    5.4 Official receiver/liquidator
    5.5 Committee inspection
    5.6 Distribution of assets and priority of claims
  2. Debt Management via Arbitration
    6.1 Interpretation of arbitration – Domestic and international arbitration
    6.2 Appointment and discharge of an arbitrator
    6.3 Conduct of Arbitral proceedings
    6.4 Arbitral award and its enforcement
    6.5 Other ADR mechanisms – Mediation, Negotiation and conciliation
  3. Cross-border insolvencies
    7.1 Model Law on cross-border insolvencies
    7.2 United Nations Commission on International Trade Law (UNCITRAL) legislative
    guide on insolvency law
    7.3 Principles for effective Insolvency & Creditor/debtor regimes – World Bank
  4. The Auction Process
    8.1 Meaning
    8.2 Understanding the Auction process
    8.3 Complaints against the auctioneers
    8.4 Rights to recover damages from Auctioneers
    8.5 Appeals handling

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