The Supreme Court of the Republic of Uzbekistan and the Asian Development Bank held a webinar for judges in economic cases to exchange experience in insolvency legislation and practice.

The webinar was organized as part of the regional project “Supporting judicial capacity for sustainable economic development in the Asia-Pacific region.”

The online webinar was attended by experts from the Asian Development Bank, the Insolvency Institute, judges from the United States, Brazil, and the Netherlands, judges and experts from the Supreme Court of the Republic of Uzbekistan, the Republic of Karakalpakstan, regional and Tashkent city courts.

As was emphasized, in a market economy, the solvency and economic stability of entrepreneurs play an essential role in the normal functioning of participants in civil legal relations and, ultimately, in the development of the economy.

The provisions of the Law of the Republic of Uzbekistan “On Insolvency” aim to ensure the financial recovery of economically insolvent business entities and the legal regulation of new relations arising in this area. It also includes provisions to encourage the use of cleanup procedures in businesses.

International experts informed about the legislation of their countries and practice in this area.

Such events contribute to the exchange of experience, increasing the level of knowledge of judges and their practical application in practice.

N. Abduraimova, UzA