Best Bankruptcy Lawyers in Kampala

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Musangala advocates and Solicitors

Musangala advocates and Solicitors

Kampala, Uganda

Founded in 2015
50 people in their team
Swahili
English
Musangala Advocates & Solicitors founded in 2015Is a well-established, Corporate & Commercial law practice firm duly approved by the Uganda Law Council and located in the heart of the capital city Kampala Uganda.Our legal team is endowed with a wealth of legal experience and expertise. We...
CR Amanya Advocates & Solicitors

CR Amanya Advocates & Solicitors

Kampala, Uganda

Founded in 2004
50 people in their team
English
Who We AreC.R. Amanya Advocates & Solicitors Notaries Public and Commissioner for Oaths, are a leading full service law firm in Uganda. The boutique Ugandan law firm provides exquisite and tailor made legal services and solutions for its individual and corporate both domestic and international...
TARA ADVOCATES

TARA ADVOCATES

Kampala, Uganda

Founded in 2019
11 people in their team
English
French
Luganda
We are a commercial law firm whose Vision is to ease doing business in Uganda by offering quality legal services. We specialize in Corporate law, Intellectual Property law, Tax, Contract law and Labour law.We are here to assist you in creating, negotiating, protecting and enforcing your legal...
KTA Advocates

KTA Advocates

Kampala, Uganda

Founded in 2009
50 people in their team
Swahili
English
KTA Advocates (Karuhanga, Tabaro & Associates) is a specialized law firm focusing on technology, media, telecommunications, Intellectual Property & Construction law. We advise clients on the financing, exploitation and protection of their creative and commercial assets in these...
Nomad Advocates

Nomad Advocates

15 minutes Free Consultation
Kampala, Uganda

Founded in 2023
4 people in their team
English
French
Luganda
Nomad Advocates: Your Strategic Legal Partner in Kampala, UgandaAt Nomad Advocates, we are more than just a law firm; we are your dedicated partners in navigating the complex landscape of corporate and commercial law. Based in the vibrant heart of Kampala, Uganda, our mission is to provide...
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About Bankruptcy Law in Kampala, Uganda

Bankruptcy law in Kampala, Uganda is governed primarily by the Insolvency Act 2011. Bankruptcy is a legal status for individuals or businesses that cannot repay their debts. Under Ugandan law, bankruptcy is referred to as 'insolvency'. When an individual or business is declared insolvent, their assets may be divided among creditors to settle outstanding debts.

Why You May Need a Lawyer

Navigating bankruptcy laws can be complex and daunting. Whether you're facing potential insolvency or are a creditor dealing with insolvent debtors, a lawyer can provide valuable guidance. Lawyers can help with tasks such as filing insolvency petitions, dealing with creditors, and understanding the intricacies of the Insolvency Act. Additionally, they can provide strategies for debt restructuring or financial recovery.

Local Laws Overview

The Insolvency Act 2011 makes provisions for both personal and corporate insolvency. It covers matters including the process for declaring insolvency, how assets are to be distributed amongst creditors, and the effects of bankruptcy. For instance, when a person is declared bankrupt, they are subject to certain restrictions, such as being prohibited from acting as a company director. It is important to understand these implications, which an experienced lawyer can help explain.

Frequently Asked Questions

1. Can all debts be cleared through bankruptcy?

Not all debts can be cleared through insolvency proceedings. Certain debts, such as court fines, student loans, and secured debts like mortgages cannot be written off.

2. What are the consequences of being declared bankrupt?

Bankruptcy can affect your ability to obtain credit, hold certain jobs, or act as a director of a company. It also involves selling off your assets, except for essentials, to repay your debts.

3. Can a bankruptcy order be reversed?

If your circumstances change or if you can repay your debts, you may be able to have the bankruptcy order annulled.

4. How long does bankruptcy last?

Under Ugandan law, bankruptcy lasts for three years. However, if you cooperate fully, you might be discharged earlier.

5. What is receivership?

Receivership is a form of corporate bankruptcy where a receiver is appointed by creditors to run the company with the aim of paying off debts.

Additional Resources

The Official Receiver's Office (ORO) falls under the Insolvency Act and acts as a public trustee in bankruptcy cases. The Uganda Law Society may also be useful in finding a lawyer to advise on bankruptcy matters. These bodies may offer additional insight or resources related to insolvency law in Uganda.

Next Steps

If you're facing insolvency, it is crucial to seek professional advice. Start by reaching out to a lawyer who specializes in insolvency law. They may be able to help you explore possible options such as debt restructuring, repayment plans, or as a last resort, filing for bankruptcy. Always remember, legal procedures in these matters can be complex, so professional advice is a necessity, not a luxury.

Lawzana helps you find the best lawyers and law firms in Kampala through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Bankruptcy, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Kampala, Uganda—quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.