Uzbekistan Doing Business 2020

Uzbekistan
Doing Business 2020
Page 61

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Details – Resolving Insolvency in Uzbekistan – Measure of Quality
Even if the economy’s legal framework includes provisions related to insolvency proceedings (liquidation or reorganization), the economy receives 0 points for the
strength of insolvency framework index, if time, cost and outcome indicators are recorded as “no practice.”
Note:
Answer
Score
Strength of insolvency framework index (0-16)
8.0
Commencement of proceedings index (0-3)
2.5
What procedures are available to a DEBTOR when commencing insolvency proceedings?
(a) Debtor may file for
both liquidation and
reorganization
1.0
Does the insolvency framework allow a CREDITOR to file for insolvency of the debtor?
(b) Yes, but a creditor
may file for liquidation
only
0.5
What basis for commencement of the insolvency proceedings is allowed under the insolvency framework? (a)
Debtor is generally unable to pay its debts as they mature (b) The value of debtor's liabilities exceeds the value
of its assets
(a) Debtor is
generally unable to
pay its debts as they
mature
1.0
Management of debtor's assets index (0-6)
3.0
Does the insolvency framework allow the continuation of contracts supplying essential goods and services to the
debtor?
No
0.0
Does the insolvency framework allow the rejection by the debtor of overly burdensome contracts?
Yes
1.0
Does the insolvency framework allow avoidance of preferential transactions?
No
0.0
Does the insolvency framework allow avoidance of undervalued transactions?
No
0.0
Does the insolvency framework provide for the possibility of the debtor obtaining credit after commencement of
insolvency proceedings?
Yes
1.0
Does the insolvency framework assign priority to post-commencement credit?
(b) Yes over ordinary
unsecured creditors
but not over secured
creditors
1.0