RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of February 1, 2019 No. PP-4146

About measures for further simplification of insolvency proceeding and radical enhancement of activities of judicial managing directors

For the purpose of further simplification of insolvency proceeding, enhancement of activities of judicial managing directors, improvement of line item of the Republic of Uzbekistan in the international ratings, and also in pursuance of the tasks determined in the State program by strategy implementation of actions in five priority directions of development of the Republic of Uzbekistan in 2017 - 2021 in "Year of active investments and social development":

1. Approve the offer of the Agency on management of the state assets, the State Tax Committee of the Republic of Uzbekistan, Association of judicial managing directors of Uzbekistan about establishment since July 1, 2019 about according to which:

bodies of Tax Service take a legal action with the statement for initiation of proceedings for insolvency concerning the debtor no later than 30 days from the date of return of executive documents in connection with impossibility of debt collection on taxes and fees;

the term of the procedure of liquidating production cannot exceed twelve months, in exceptional cases this term can be extended by the judgment, but no more than for three months, based on the petition of persons participating in the case of insolvency;

the court verdict which took legal effect about establishment of signs of pseudo-insolvency, concealment of insolvency or deliberate insolvency as a result of actions of person as founder (participant) having the right to give obligatory instructions to the legal entity, or owner of property of the legal entity or persons to whom legal acts assign obligations on management is the basis for involvement of such persons to subsidiary responsibility according to the procedure, established by legal acts;

the property of debtors to whom procedures of insolvency are applied is subject to realization by judicial managing directors through electronic online auction on E-auksion electronic trading platform or the competitive biddings on this platform in the cases provided by legal acts.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info