The Company does not deny that it is indebted to the Petitioner. It does not deny receiving the Statutory Demand issued under section 384 of the Insolvency Act. Under the Insolvency Act, the Company is deemed to be insolvent.
In view of the fact that the Insurance Regulatory Authority (IRA) must be heard on the petition, I adjourn the hearing of the petition.
Hearing on 30.06.20323 and Summons to issue to the IRA to show cause why the Company should not be liquidated.
DATED and DELIVERED at NAIROBI this 9th day of MAY 2023
D. S. MAJANJA
JUDGE