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The document ceased to be valid since  October 18, 2021 according to the Presidential decree of the Republic of Uzbekistan of October 18, 2021 No. UP-6325

RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of July 26, 1999 No. 362

About additional measures for implementation of the legislation on bankruptcy of the companies

(as amended on 14-04-2020)

In pursuance of the 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" and Item 2 of the Resolution of Oliy Majlis of the Republic of Uzbekistan of August 28, 1998 "About enforcement of the Law "About Bankruptcy", and also for the purpose of activation of processes of liquidation of the companies declared bankrupt, the Cabinet of Ministers decides No. 669-I:

1. Specify to Committee on cases on economic insolvency of the companies, the Supreme Economic Court the unsatisfactory organization of work on accomplishment of the resolution of the Cabinet of Ministers of November 2, 1998 No. 460, to implementation of liquidation and carrying out sanitation of economically insolvent companies, realization of property of the bankrupt companies.

2. Concerning bankruptcy and sanitation of the companies with participation of Committee on cases on economic insolvency of the companies, the ministries, departments, concerns, corporations, associations and the companies following the results of 1 half-year 1999 it is deep to government commission to analyze financial and economic provision of the unprofitable companies, to determine the specific list of the unpromising companies which are subject to liquidation critically to review earlier adopted agendas of liquidation, sanitation and reshaping of the companies with the state ownership ratio and to report on the Cabinet of Ministers following the results of 9 months on results of the carried-out work of this year.

3. it is excluded

4. To agency on management of the state assets of the Republic of Uzbekistan:

establish daily control of the course of liquidating production of the bankrupt companies in which authorized capital there is share of the state, in case of unsatisfactory work of the liquidating managing director to file petition in economic court for release it from fulfillment of duties;

provide regular carrying out biddings on realization of property of the liquidated companies.

5. Recommend to the Supreme Economic Court of the Republic of Uzbekistan:

stir up activities of economic courts for hearing of cases about bankruptcy of the companies in regions of the republic;

exclude cases of formalism and red tape by hearing of cases about bankruptcy of the companies, appointment of liquidating managing directors, to consider responsibility of the officials guilty of the similar facts;

it is deep to analyze and generalize court practice on cases on economic insolvency, to timely make offers on enhancement of the legislation on bankruptcy.

6. it is excluded

7. Approve:

Regulations on sanitation of economically insolvent companies according to appendix No. 2.

8. Government commission concerning bankruptcy and sanitation of the companies in a month:

develop and submit for approval in the Cabinet of Ministers the project of the Regulations on liquidation commissions on liquidation of the bankrupt companies with the state share in property;

approve updated standard regulations on territorial administration of Committee on cases on economic insolvency of the companies.

9. To the ministry of macroeconomic and statistics of the Republic of Uzbekistan:

in ten-day time within the established extreme number to review structure of central office and territorial administrations of Committee on cases on economic insolvency of the companies;

to carry out employee assessment of central office and territorial administrations of Committee to two-month time.

10. Make changes to decisions of the Cabinet of Ministers of the Republic of Uzbekistan according to appendix No. 4.

11. Quarterly to consider questions of the course of implementation of the legislation on bankruptcy of the companies at cabinet meetings during the summing up social and economic development and assessment of the course of economic reforms.

12. To impose control over the implementation of this resolution on the deputy prime minister of the Republic of Uzbekistan Hamidov B. S.

Chairman of the Cabinet of Ministers

Islam Karimov

Appendix № 1

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of July 26, 1999 No. 362

Voided

Appendix № 2

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of July 26, 1999 No. 362

Regulations on procedure for carrying out pre-judicial sanitation

I. General provisions

1. This Provision according to the Law of the Republic of Uzbekistan "About bankruptcy" and the Presidential decree of the Republic of Uzbekistan No. UP-2342 of July 23, 1999. "About enhancement of the mechanism of bankruptcy and sanitation of the companies" regulates questions of the pre-judicial sanitation which is carried out for the purpose of improvement and recovery of solvency of the companies having bankruptcy signs.

2. Pre-judicial sanitation (further sanitation) represents measures for recovery of solvency of the debtor by founders (participants) of the debtor - the legal entity, creditors of the debtor and other persons, including the state, for the purpose of the prevention of bankruptcy.

Pre-judicial sanitation is performed before initiation of proceeedings about bankruptcy of the debtor and aims at recovery of solvency, economic solvency of the debtor and creation of conditions for further implementation of its effective activities.

3. Sanitation with provision of the state support of the debtor is entered for a period of twelve up to twenty four months.

4. Action of this provision does not extend to the pre-judicial sanitation of agricultural enterprises performed according to the Law of the Republic of Uzbekistan "About sanitation of agricultural enterprises".

II. Subjects and subjects to sanitation

5. Founders (participants) of the debtor of the legal entity, the owner of property of the debtor, state bodies and other persons can be subjects of sanitation.

6. Subject to sanitation is the debtor.

7. Are subject to first-priority sanitation:

the companies making vital food both nonfoods of national consumption and medicines;

the companies ensuring maintenance of defense capability and safety of the state;

the companies of key branches (mining, energy, metallurgical, chemical and other industries) playing the determining role in development of economy of the republic;

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