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15 August 2023

In connection with the improvement of legislative acts in the field of insolvency, amendments and additions were made to some acts of the Government of the Republic of Uzbekistan

Cabinet of Ministers of the Republic of Uzbekistan adopted the resolution № 304 "On introduction of amendments and additions to some decisions of the Government of the Republic of Uzbekistan in connection with the improvement of legislative documents in the field of insolvency".

In accordance with this resolution, the term "bankruptcy" in some documents of the Government replaced by the term "insolvency", and in connection with the introduction of insolvency procedures for individuals, strengthened the legal basis for the application of insolvency procedures to individuals.

Also in the Decree:

  • The state service of issuing qualification certificates to applicants for the position of court administrator is provided through the State Service Centres and the Single Portal of Interactive State Services;
  • Court managers are allowed to use state services when fulfilling their legal obligations without making prepayments.
  • When applying the simplified insolvency procedure to an individual debtor and (or) insolvency to another debtor, the labour costs of a court administrator are covered by the tax authority at the expense of the State budget.
  • The procedure for the work of the attestation commission of court managers has been established;
  • Introduced the practice of posting information on insolvency on the official website of UzSAMA together with the print edition as a mass media;
  • A court verdict on detection of signs of wilful insolvency, concealment of insolvency or wilful causing of insolvency as a result of actions of a founder (participant), owner or individuals entrusted with the debtor's management is the basis for bringing the said persons to subsidiary liability in accordance with the established procedure;
  • Individuals participating in an insolvency case have the right to apply to the court with an application for the appointment of an expert examination to identify the signs that led to fictitious insolvency, its concealment or wilful insolvency.
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