How does a creditor demonstrate that the company is unable to pay its debts?
ANSWER
How the creditor can prove insolvency:
• That a debt of KSh.1,000 or more remain unpaid three weeks after demand
• Execution or other process has been returned unsatisfied wholly or in part.
• That taking into account the prospective and contingent liabilities the court is satisfied that the company is unable to pay its debts.
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