Document from CIS Legislation database © 2003-2019 SojuzPravoInform LLC

PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of July 23, 1999 No. UP-2342

About enhancement of the mechanism of bankruptcy and sanitation of the companies

(The last edition from 11-09-2017)

For the purpose of acceleration of process of liquidation of economically insolvent companies, support to the companies which are experiencing temporary economic difficulties and having real possibility of improvement of financial and economic activities:

1. Approve updated structure of Government commission concerning bankruptcy and sanitation of the companies.

2. voided

4. Permit external managing and liquidating managing directors when implementing sale of debtor enterprises or their property with the consent of meeting (committee) of creditors to perform:

realization of the company or property by installments no more than one year on condition of representation of the corresponding guarantee of the commercial bank serving the buyer;

sale of the invaluable and fast-wearing-out property, and also remaining balance of raw materials and finished goods without carrying out biddings on the basis of purchase and sale agreements.

5. To provide to economic courts of the Republic of Uzbekistan consideration of the bankrupt companies of materials for recovery by enforcement of receivables represented by liquidating managing directors without advance payment of the state fee with subsequent its collection from party at fault.

6. Voided

7. To the Ministry of Justice of the Republic of Uzbekistan together with Government commission concerning bankruptcy and sanitation of the companies, Committee on cases on economic insolvency of the companies and other interested departments in two weeks to make in the Cabinet of Ministers offers on change and amendment of the Law of the Republic of Uzbekistan "About bankruptcy" and other acts of the legislation, following from this Decree.

8. To the Cabinet of Ministers of the Republic of Uzbekistan in week time to accept the resolution in pursuance of this Decree.

 

President of the Republic of Uzbekistan
Islam Karimov

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