CONTEMPORARY TRENDS IN INSOLVENCY REGULATION
Abstract
This article examines approaches to the legal regulation of insolvency. In particular, the procreditor and prodebitor regimes adopted by the state are analyzed, and their features and differences are described. There are scientific conclusions about the regime of insolvency based on the legislation of Uzbekistan, and the type of legislation that serves the interests of participants in civil attitudes. Particular attention has been paid to the objectives of the credit policy when establishing insolvency regimes, based on two goals – fair distribution of risks and maximizing the value of the debtor’s assets. The models of insolvency regulation are analyzed from the example of the countries of Europe and the USA, their experience is compared with the practice of Uzbekistan. In particular, it has been established that rehabilitation norms appeared in US legislation and were subsequently used as a model in European countries, and the legislation of many countries is currently improving its legislation on the rehabilitation of the debtor. Analytical conclusions, ideas, and recommendations have also been developed on the need to improve the concept of insolvency in Uzbekistan and the priorities that should be reflected in it.