Article 77. Special Considerations with Respect to Conclusion and Approval of Settlement Agreement When Considering Application for Bringing To Subsidiary Liability

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

When considering an application for bringing to subsidiary liability, a settlement agreement may be concluded.

If a person brought to subsidiary liability provides information about the property, the amount of which is sufficient for the execution of a settlement agreement, this settlement agreement may be approved by the court.

A settlement agreement may be concluded only between the person who filed an application for bringing to subsidiary liability and the person brought to subsidiary liability.

The terms of the settlement agreement (including the provision of compensation, the exchange of claims for shares, stock in the charter fund (authorized capital), bonds or other shares convertible into bonds, or other securities, innovative ideas, etc.) shall be drawn up on the basis of the unanimous approval of the persons who filed applications for subsidiarity.

In case of failure to comply with the terms of the settlement agreement within the prescribed period, the creditor shall have the right to apply for a writ of execution to collect the debt to the court that considered the application for bringing to subsidiary liability.

Open in the readerWith colour highlights, notes, search and a test on the selected text.

All articles of the lawThis article in other languages:ru uz

Source of the text

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

The text is taken from lex.uz automatically and matches it in content: it is the same text, not a separate edition. It is given for educational and reference purposes and the content of the norms is not changed. It is not an official publication: for court, contracts and official answers check the current edition on lex.uz. About

About the site: NEOLEX (veoskill) is an educational project about the law of the Republic of Uzbekistan. It does not replace lex.uz; to the same texts it adds a separate address for every article, plain-word explanations, a glossary, tests and reading in three languages. Contact: Telegram @neovixar.

Cite as: Article 77. Special Considerations with Respect to Conclusion and Approval of Settlement Agreement When Considering Application for Bringing To Subsidiary Liability On insolvency (LRU-763-son). neolex.uz/en/laws/law-5957616/77 (lex.uz/docs/6352957)