TUESDAY: 25 April 2023. Afternoon Paper. Time Allowed: 3 hours.
Answer ALL questions. Marks allocated to each question are shown at the end of the question. Do NOT write anything on this paper.
QUESTION ONE
1. Distinguish between “Domestic dispute arbitration” and “International dispute arbitration”. (4 marks)
List FOUR duties of a debtor in bankruptcy proceedings. (4 marks)
2. Explain THREE provisions regarding claims of creditors upon effecting a summary instalments order (SIO). (6 marks)
3. Evaluate THREE effects of the provisional liquidator’s appointment under the partnership Act. (6 marks)
(Total: 20 marks)
QUESTION TWO
1. With reference to the auction process in your country:
State FOUR rules that govern sale by auction. (4 marks)
Summarise SIX contents of a register of warrants and letters of instruction. (6 marks)
2. Discuss FIVE ways a court may decree dissolution of partnership on application by a partner. (10 marks)
(Total: 20 marks)
QUESTION THREE
1. Explain the following terms as used in the insolvency laws in your country:
Official Receiver. (2 marks)
Supervisor. (2 marks)
Administrator. (2 marks)
2. Identify THREE prohibitions of an adjudged bankrupt. (6 marks)
3. Describe FOUR common features of Insolvency Laws. (8 marks)
(Total: 20 marks)
QUESTION FOUR
1. State FOUR circumstances under which a person is deemed to have an insolvency status. (4 marks)
2. Enumerate SIX powers of insolvency representatives. (6 marks)
3. Summarise FIVE stages followed in filing a bankruptcy petition in your country. (10 marks)
(Total: 20 marks)
QUESTION FIVE
1. Highlight FOUR reliefs that may be granted upon recognition of foreign proceedings. (4 marks)
2. Discuss FOUR consequences of dissolution of a partnership. (8 marks)
3. Explain FOUR grounds that a creditor could use to file for bankruptcy petition against a debtor. (8 marks)
(Total: 20 marks)
