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People

Judy Muigai has expertise in debt restructuring and insolvency, infrastructure and energy projects and tax. Judy has worked on large restructuring and debt recovery matters including a settlement arrangement for a debt of USD70 million owed by a state corporation to a prominent commercial lender and advising leading local banks and a European DFI regarding enforcement options in respect of a large local manufacturer. She has also advised lenders on restructuring the debt for a large urban mixed use real estate development in a neighbouring country including a suite of restructuring agreements and an enhanced security package.

Judy also has experience in supporting public and private sector players regarding energy and natural resource projects including reviewing agreements for geothermal and wind power projects, providing legal opinions, and supporting legal reform initiatives.

Judy’s clients cut across various sectors including oil & gas, aviation, power, healthcare, real estate, and consulting sectors. Prior to joining the Firm, she worked at GE as a Regional Tax Manager and PriceWaterhouseCoopers as an Associate Director.

Experience has included advising:

  • On power project agreements in Kenya including hydro power projects, a 50MW wind power project and a 70MW geothermal power plant.
  • On reforms to the Mining Code of an Eastern African country and presenting proposals in a Kenyan Mining round table event attended by senior government officials.
  • EPC contractors on specific aspects of agreements in respect of projects with the Kenya Airports Authority and the Kenya National Highways Authority.
  • On the structure of a large hotel and urban retail developer.
  • A large manufacturer and a multinational energy producer on export processing zones and special economic zones.
  • On restructuring and debt recovery for local and international secured lenders to a large manufacturing concern in Kenya.
  • A global aviation sector player on approval processes and requirements.

Professional Qualifications

  • Fellow of the Association of Chartered Certified Accountants (ACCA), 2012

 Education

  •  University of Warwick, LL.M (International Economic Law), 2002
  • Keele University, LL.B (Law and Management Science), 2004
  • Cornell University, Certificate in Business Strategy, 2015

 Prior Experience (Optional)

  • 2019 to date, Director, Projects, Energy & Infrastructure, IKM Advocates, DLA Piper Africa in Kenya

Is there any chance to rescue zombie companies in Kenya?

Anyone who has watched a zombie movie will tell you that there is only one thing to do when confronted by a zombie – run. Like the zombie of the screen, zombie companies exist somewhere between the living and the dead. A zombie company continues to trade but has not generated sufficient cash flows to service its debt for 3 years or more. It can remain condemned to financial limbo for many years unless its creditors take action to either wind it up or resuscitate it.

How to become both producer, consumer of electricity in Kenya

A prosumer is a portmanteau of a producer and a consumer. The Energy Act 2019 provides for small producers of renewable energy for their own use to sell their surplus electricity to the national grid, which makes them prosumers. Prosumers only pay for the ‘net’ electricity they consume from the grid through a mechanism known as Net Metering. Draft regulations for Net Metering were released for public comment by the Energy and Petroleum Regulatory Authority (EPRA) in June 2022.

How digitalisation could solve Kenya’s power sector woes

Amit Zavery, the head of Google Cloud makes the point that we should “Think of digital transformation less as a technology project to be finished than as a state of perpetual agility, always ready to evolve for whatever customers want next.” The electricity sector in Kenya has been grappling with a plethora of challenges which are often met with a chorus of public outcry. Three of the most prominent issues are reliability, the high costs and accessibility. Digitalisation presents workable solutions for some of these challenges through digital tools such as smart meters, smart grid systems, and blockchain technology.

Putting the insolvency reforms in perspective

Many countries have introduced insolvency reforms in the recent past, partly in an attempt to enhance their legal frameworks and partly to respond to exigencies stemming from the COVID-19 pandemic. From a Kenyan perspective, amendments to insolvency laws have been made through recent Business Laws Amendment Acts but we also note that a draft Insolvency Amendment Bill, 2020 (Bill) was published on the BRS website, and contains some proposals that are worth pondering.

Why climate change is on your banker’s mind

In the aftermath of the 2007/8 financial crisis, Hugo Chavez the former president of Venezuela famously said that if climate was a bank, they would already have saved it. He was making the point that in the hierarchy of urgent and important global goals, bailing out banks far surpassed climate problems.