For the purpose of financial rehabilitation of enterprises with signs of insolvency by restoring their solvency, the Cabinet of Ministers Resolution No. 708 of October 28, 2024 approved the “Regulations on the procedure of pre-judicial sanation with the provision of state support”, according to which:

1. In accordance with the Law on Insolvency, enterprises with signs of insolvency may apply to UzSAMA through the State Service Centers or the Single Portal of Interactive State Services (my.gov.uz) for pre-judicial sanation.

In this case, pre-judicial sanation for enterprises is introduced for a period from twelve to twenty-four (12-24) months on the basis of decisions of tax and other authorized bodies and the relevant decision of UzSAMA, aimed at reaching agreements between the debtor and creditors on granting deferred payments, installments or discounts on debts.

2. For the purpose of financial rehabilitation of enterprises through pre-judicial sanation, the following support measures are envisaged:

• opening a bailout account in case of stopping the previous bank accounts of the enterprise in the bank serving it in accordance with the decision of UzSAMA;
• provision of financial assistance in the form of guarantees when obtaining a loan from commercial banks or upon agreement with creditors on the basis of legislative acts;
• cooperation with international financial institutions and foreign financial organizations on the implementation of projects aimed at supporting enterprises, including technical and consulting assistance;
• conservation of unused fixed assets and unfinished construction projects, as well as other support provided for by the legislation.

3. The head and governing bodies of the enterprise subject to pre-judicial sanation are responsible for the implementation of measures aimed at the financial rehabilitation of the enterprise.

4. Monitoring of the implementation of the business plan and debt repayment plan in the enterprises under pre-judicial sanitation is carried out by UzSAMA and its territorial departments.

If the results of monitoring show that pre-judicial sanation has been ineffective (business plan and/or debt repayment schedule has not been implemented for three consecutive quarters) or the term of pre-judicial sanation has expired, or the tax authorities have early terminated the tax deferment or installment plan, the service of pre-judicial sanation is terminated.

It should be separately noted that this Regulation, approved by the Resolution of the Cabinet of Ministers, serves to restore the solvency of business entities in financial difficulties by deferring payments to creditors, as well as attracting funds from external and internal sources.