Association of Turnaround and Insolvency Kenya Limited (ATIK) - Kenya

Association of Turnaround and Insolvency Kenya Limited (ATIK) - Kenya
Association of Turnaround and Insolvency Kenya Limited (ATIK) - Kenya

The Association of Turnaround and Insolvency Kenya Limited (ATIK) was formed to respond to a belief of the benefits of having a professional centralized and inclusive association for the country particularly
given that Kenya’s current insolvency regime is relatively new, and jurisprudence is still developing. The Association was launched in April 2022, and also seeks to provide a forum where practitioners in this field can train younger Professionals, the Judiciary and other Stakeholders. In addition, it can represent Members’ views on matters such as Legislative changes to Government and to other Professional Bodies having an interest in Insolvency Law and Restructuring Practice.

The Founding Members of the Association who constitute the initial Board of Directors are all highly regarded professionals in the Legal, Finance & Banking, Turnaround, Restructuring and Insolvency fields.

They are: Sonal Tejpar (formerly Sonal Sejpal) George Weru, Anthony Muthusi, Anthony Muniu, Robert Habwe, Harveen Gadhoke.

The Main Objectives of the Association are:

  • To undertake trainings and workshops through collaborations with various stakeholder entities such as the Office of the Attorney General and Department of Justice, the Judiciary Training Institute, the Law Society of Kenya, the Institute of Certified Public Accountants, Central Bank of Kenya, the Kenya Deposit Insurance Corporation (KDIC), Banks and Financial Institutions among others.
  • To promote and play a thought leadership role in connection with and in relation to business turnarounds and insolvencies.
  • To encourage turnaround of stressed and distressed entities and their assets including state-owned enterprises and other business establishments.
  • To promote mutual exchanges of opinions and information by practitioners and other stakeholders who are engaged in research and practice in the field of insolvency or business recovery.
  • To provide a forum for practitioners and other stakeholders engaged in business recovery and Insolvency practice.
  • To promote law reforms in effective business recovery measures and insolvency.
  • To promote international cooperation with respect to insolvency or business recovery and related cross border matters.
  • Access to education and training
  • Updates on emerging issues pertaining to insolvency
  • Playing a role in improving the Insolvency regime in Kenya
Membership Benefits
As the only Association in Kenya solely set up to cater for Turnaround and Insolvency needs, there are lots of opportunities for members.

Some of the membership benefits include;
Networking opportunities; advocacy; participation and collaboration through educational forums/workshops; access to resources in terms of specific skills and expertise, marketing opportunities, leading publications, technical papers by experts and renowned authors; ease of joining INSOL International through shared membership by ATIK which offers many benefits; making an impact through advocating for the industry, the economy and the society.