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Economy 27/08/2011 Senators introduce changes to law “On bankruptcy”
Senators introduce changes to law “On bankruptcy”
Tashkent, Uzbekistan (UzDaily.com) -- Senate of Oliy Majlis of Uzbekistan approved a law “On introduction of changes and amendments to the law “On bankruptcy” at its sixth plenary session in Tashkent on 26 August 2011.

Changes and amendments directed at speeding up some procedures on liquidation of capacities, realization of property of bankrupt enterprises to new owners to organization of demanded production.

In particular, the law envisages to cut transfer of creditors meeting protocol to economic courts from five to two days and courts will have to consider the case within two months against earlier three months.

At the same time, the law envisages to carry out liquidation of production without stopping its activity to ensure social protection of population and organization of new laws.

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