Uzbekistan plans to establish a registry of obligations for chronic debtors.

Uzbekistan, Tashkent – According to AN Podrobno.uz, a registry of obligations for debtors is set to be established in Uzbekistan. The draft law regarding this initiative was approved by the deputies of the Oliy Majlis in its first reading.

https://podrobno.uz/cat/obchestvo/v-uzbekistane-khotyat-zavesti-reestr-obyazatelstv-dlya-zlostnykh-dolzhnikov/2025-01-09 08:13:26

The registry will be maintained by the Bureau of Enforcement. It will include information about individuals who evade their debt obligations as per court rulings or decisions from other authorities.

If a debtor is listed in this registry, the imposed restrictions – asset seizure, travel bans, and account freezes – will remain in effect until the obligations are fully met. Currently, these restrictions can be lifted, and enforcement proceedings concluded if no assets or income are found that can be used for recovery.

Additionally, according to the draft law, responsible authorities will monitor the financial and asset situation of the debtor. If any assets are discovered or funds are deposited into their account, these will be seized to repay the debt. This will be carried out based on interagency cooperation through the debtor's PINFL in the system.

Debtors may be removed from the registry upon the request of the creditor in the following cases:

the debtor has fulfilled their obligations under the enforcement document;

the debtor has passed away;

the act on which the enforcement document was issued has been annulled or declared invalid;

information about the debtor's assets or funds has not been identified for 10 years;

the debtor has been declared bankrupt.