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What you need to know before filing for bankruptcy

Former Lugari MP Cyrus Jirongo; commercial court declared him bankrupt for failing to pay Sh700m debt

NAIROBI, KENYA: When faced with overwhelming debts obligations, some people turn to courts of law to file for bankruptcy.

They compel the courts to declare them bankrupt and insolvent, meaning that they no longer have capacity to clear their debts. They also set legal protection from creditors not to pursue them.

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