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RESOLUTION OF THE SUPREME ECONOMIC COURT OF THE REPUBLIC OF UZBEKISTAN

of December 21, 2004 No. 4688

Incomplete clarification of the circumstances important for case is the basis to cancellation of the decision
(Extraction)

The claimant - the Fergana department of the foreign trade activities National Bank of the Republic of Uzbekistan appealed to economic court with the action for declaration to defendants: JSC Fergansky oblastnoy tsentralny optovo-roznichny torgovy rynok and JSC Fergansky maslozhirkombinat about collection from them in solidary procedure for debt on credit to the amount of 49795628 bags, including 34000000 bags of the credit and 15795628 bags of interests on credit.

During legal proceedings by the defendant - JSC Fergansky maslozhirkombinat submits the counter action for declaration about agreement cancelation of the guarantee.

By the decision of economic court adoption of the counter action for declaration it is refused. Claims of the claimant are satisfied partially, from the defendant - JSC Fergansky oblastnoy tsentralny optovo-roznichny torgovy rynok collects credit amount in the amount of 34000000 bags, percent in the amount of 15795628 bags, court costs in the amount of 497356 bags, all - 50292984 bags. The defendant - JSC Fergansky maslozhirkombinat is exempted from liability.

In appellate instance case was not considered.

Without having agreed with the made decision, the claimant appealed to the Supreme Economic Court with the writ of appeal, and prosecutor's office of the Fergana region with the prosecutor's appeal about change of the judgment and debt collection from defendants in solidary procedure.

Judicial board, having studied case papers and having researched proofs, having discussed arguments of the writ of appeal and protest, considers necessary the writ of appeal and protest to satisfy, to cancel the judgment and to send case for new trial on the following bases.

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