Article 55. Court Decision on Refusal To Declare Debtor Bankrupt

On insolvency (LRU-763-son) · Date: 12.04.2022 · In force

The decision of the court to refuse to declare the debtor bankrupt shall be adopted in the following cases:

failure to establish signs of insolvency;

satisfaction of the stated claims of creditors before the court adopts decision on the insolvency case;

establishment of false insolvency.

A court decision to refuse to declare a debtor bankrupt may also be adopted in other cases provided for by this Law.

If there is evidence indicating that the debtor has a sufficient amount of liquid property, the court shall be entitled, at the debtor's request, to postpone the consideration of the insolvency case, suggesting that the debtor pay off the creditors' claims within the period established by the court, which cannot exceed thirty days.

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Source of the text

National Database of Legislation of the Republic of Uzbekistan (lex.uz). Original on lex.uz: lex.uz/docs/6352957

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Cite as: Article 55. Court Decision on Refusal To Declare Debtor Bankrupt On insolvency (LRU-763-son). neolex.uz/en/laws/law-5957616/55 (lex.uz/docs/6352957)