PARTICIPATION OF PUBLIC AUTHORITIES IN DRAFTING AGREEMENTS IN BANKRUPTCY CASES: PROBLEMS AND SOLUTIONS
Annotatsiya
The article states that the Law of the Republic of Uzbekistan “On Bankruptcy” defines the rights of the state body to participate in the settlement agreement, but does not specify the procedure for their implementation, and many questions remain open. It is concluded that in order to achieve the goals of restoring the debtor’s solvency, it is necessary to have a decision of the competent authorities to change the conditions for the payment of mandatory payments and an agreement defining the relationship of the debtor with creditors. It is also analyzed that the bankruptcy of one company as a result of a difficult situation in the retail, service, energy and automotive industries leads to the closure of several more companies associated with it, and the use of existing opportunities to preserve an economic entity that can be restored through bankruptcy to invest contribution to the country’s economy in world practice. As a result of the study, it is proposed to introduce into the Tax Code of the Republic of Uzbekistan article 1001 “Providing a debtor who has entered into an amicable agreement on the settlement of bankruptcy, the possibility of deferral or installment payment of taxes” and article 1002 “Exemption of a debtor from tax, who has entered into an amicable agreement in a bankruptcy case”.