CHALLENGING THE DEBTOR'S TRANSACTIONS AS A LEGAL MECHANISM FOR PROTECTING CREDITORS' PROPERTY RIGHTS IN INSOLVENCY PROCEEDINGS UNDER THE LEGISLATION OF THE REPUBLIC OF UZBEKISTAN
- Authors
-
-
Ruzimova Ruzanna Maxmudjan qizi
Researcher
Author
-
- Keywords:
- Insolvency, bankruptcy, debtor's transactions, invalidity of transactions, suspicious transactions, preferential satisfaction, liquidation estate, creditors' property rights, court manager, Republic of Uzbekistan.
- Abstract
-
The article examines the institution of invalidation of the debtor's transactions as one of the central legal mechanisms for protecting the property rights of creditors in insolvency proceedings under the law of the Republic of Uzbekistan. Drawing on the Law of the Republic of Uzbekistan No. ZRU–763 of 12 April 2022 “On Insolvency”, the Civil Code, and the Economic Procedural Code, the author analyses the grounds, terms (so-called “suspect periods”), procedural framework, and legal consequences of declaring the debtor's pre-insolvency transactions invalid. Particular attention is given to Chapter 6 of the Insolvency Law (Articles 63–68), which differentiates between transactions causing losses to creditors, transactions involving preferential satisfaction, and transactions concluded with the debtor's successors. The article identifies systemic problems in law enforcement practice and offers proposals for further development of the doctrine and legislation.
- References
-
1. Civil Code of the Republic of Uzbekistan (Part One), approved by the Law of the Republic of Uzbekistan of 21 December 1995 No. 163–I (with subsequent amendments).
2. Economic Procedural Code of the Republic of Uzbekistan, adopted on 24 January 2018 (with subsequent amendments).
3. Law of the Republic of Uzbekistan of 12 April 2022 No. ZRU–763 “On Insolvency” (with amendments and additions).
4. Law of the Republic of Uzbekistan of 5 May 1994 No. 1054–XII “On Bankruptcy” (repealed by the Law of 12 April 2022 No. ZRU–763).
5. Resolution of the President of the Republic of Uzbekistan on the implementation of the Law “On Insolvency” and related normative acts.
6. Federal Law of the Russian Federation of 26 October 2002 No. 127–FZ “On Insolvency (Bankruptcy)”, Article 61.2 (used for comparative purposes).
7. Resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation of 23 December 2010 No. 63 (used for comparative purposes).
8. Doctrinal commentaries on the Insolvency Law of the Republic of Uzbekistan published by the Ministry of Justice of Uzbekistan and academic legal centres.
- Downloads
- Published
- 2026-05-10
- Issue
- Vol. 2 No. 5 (2026)
- Section
- Articles
- License
-
This work is licensed under a Creative Commons Attribution 4.0 International License.
