The Supreme Court of the Republic of Uzbekistan and the Asian Development Bank jointly organized a webinar for judges specializing in economic cases to share their experiences and insights on insolvency legislation and practices. This webinar was a part of the regional project “Supporting Judicial Capacity for Sustainable Economic Development in the Asia-Pacific Region.”
Experts from the Asian Development Bank, the Insolvency Institute, and judges from the United States, Brazil, and the Netherlands, as well as judges and experts from the Supreme Court of the Republic of Uzbekistan, the Republic of Karakalpakstan, and various regional and Tashkent city courts, participated in this online event. The importance of solvency and economic stability of entrepreneurs in a market economy was emphasized, as it plays a crucial role in the smooth functioning of civil legal relationships and ultimately contributes to the development of the economy.
The Law of the Republic of Uzbekistan “On Insolvency” aims to facilitate the financial recovery of economically insolvent business entities and regulate new relationships in this area. It also includes provisions to encourage the use of cleanup procedures in businesses. International experts shared their knowledge and practices in this field, providing valuable insights on the legislation of their respective countries.
Such events serve as a platform for the exchange of experiences, enhancing the knowledge and practical application of judges in their work. This webinar was reported by N. Abduraimova for UzA.