Uzbekistan is implementing a comprehensive reform of its insolvency framework aimed at improving efficiency of insolvency procedures, expanding pre-trial rehabilitation mechanisms and strengthening institutional governance in the sector.
The reform introduces major structural, procedural and digital changes designed to modernize insolvency administration and improve recovery mechanisms for financially distressed businesses and individuals.
The new framework establishes several key targets for development of the insolvency system, including:
improving state governance and legal regulation in the insolvency sphere;
increasing the share of rehabilitation measures implemented without court involvement through expansion of pre-trial rehabilitation mechanisms;
reducing the average duration of insolvency procedures by at least 30% through simplification and digitalization;
doubling the number of insolvency administrators through modernization of the regulatory and qualification system.
The reform signals a shift toward a more rehabilitation-oriented and technology-driven insolvency model.
A new Insolvency Agency is being established under the Ministry of Justice as the central authority responsible for insolvency regulation and policy implementation.
Its powers include:
implementation of state policy in the insolvency sector;
regulatory oversight and coordination of insolvency procedures;
digitalization and simplification of insolvency processes;
support for financial rehabilitation of insolvent businesses and individuals;
maintaining insolvency statistics and analytics;
certification, supervision and monitoring of insolvency administrators.
The Agency is also tasked with improving coordination among courts, government authorities and creditors.
The reform transforms the existing association of insolvency administrators into the Chamber of Insolvency Administrators of Uzbekistan, operating on the basis of mandatory membership for all insolvency administrators.
The Chamber will function as a professional self-governing body and will be responsible for:
professional ethics standards;
qualification and training programs;
monitoring professional performance;
disciplinary measures and membership suspension mechanisms;
annual rating and evaluation systems.
Starting from 1 July 2026, the Chamber and accredited educational institutions will be authorized to train insolvency administrators.
The reform introduces enhanced qualification and performance requirements for insolvency administrators, including:
mandatory retraining programs;
periodic qualification reviews;
KPI-based remuneration structures;
monitoring and rating systems;
disciplinary liability mechanisms.
A notable innovation is the introduction of electronic and randomized selection mechanisms for appointment of insolvency administrators, aimed at reducing human intervention and increasing transparency.
Courts may also reduce remuneration where administrators improperly perform their duties.
The reform places significant emphasis on pre-trial rehabilitation (sanation) as an alternative to formal court insolvency procedures.
From 1 September 2026, creditors and banks may:
suspend accrual or payment of interest under rehabilitation agreements;
restructure debt obligations;
apply additional financial rehabilitation measures.
The framework also expands opportunities for:
tax deferrals and installment arrangements;
restructuring of tax obligations;
financial support instruments for SMEs undergoing rehabilitation procedures.
Applications for tax deferrals will be processed electronically with shortened review periods.
One of the most significant elements of the reform is the creation of a Unified Electronic Insolvency Platform, scheduled to launch from 1 December 2026.
The platform will support:
online monitoring of insolvency procedures;
electronic registries of debtors and insolvency cases;
digital creditor meetings and voting;
publication of rehabilitation plans and administrator reports;
integration with court and government information systems.
The platform is intended to become the official source for mandatory insolvency disclosures.
The reform represents a substantial modernization of Uzbekistan’s insolvency framework through:
stronger institutional oversight;
greater emphasis on rehabilitation over liquidation;
professionalization of insolvency administrators;
expanded digitalization and transparency;
improved creditor coordination and procedural efficiency.
For businesses, creditors, banks and investors, the changes are expected to improve predictability and efficiency of insolvency and restructuring processes.
The decree entered into force on 7 May 2026.