Our team represented a leading US-based global professional services network
Our team represented a leading US-based global professional services network
We represented a leading US-based global professional services network in a cluster of related actions where so-called investors, who had invested their monies in a Ponzi scheme, sought an indemnity from our client should they not recover their money from the fraudster's estate.
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An important, yet undervalued principle in loan transactions is the pari passu principle. The principle concerns the ranking of lenders’ claims and concomitant security rights in loan transactions. In this article, the meaning and scope of the pari passu principle in loan transactions isdiscussed.
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by Alex Kanyi and Judith Jepkorir
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On 17 February 2023, the High Court declared section 13(2) of the Income Tax Act (ITA), which grants the Cabinet Secretary power to exempt certain income from tax, to be unconstitutional. The section provides that the Minister may, by notice in the Kenya Gazette, exempt from tax any income or class of income which accrued in or was derived from Kenya. Our alert of 26 April 2023 accessible here [/en/news/publications/2023/Practice/Tax/tax-and-exchange-control-alert-26-High-Court-declares-the-power-to-issue-income-tax-exemptions-through-a-gazette-notice-unconstitutional.html#:~:text=The High Court on 17,from tax, to be unconstitutional] discusses the High Court’s judgment indetail.
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