Some issues of improvement of the legislation of the Republic of Uzbekistan on insolvency

The article is devoted to the analysis of the effectiveness of the current legislation of Uzbekistan in the field of financial recovery of economically insolvent enterprises and their bankruptcy procedures. The importance of this section of the legislation governing market relations is emphasized. The progressiveness of the coming to replace the Law "On Bankruptcy" of May 5, 1994, the Law "On Insolvency" of April 12, 2022, aimed at a deeper integration of the republic's economy into the international economic system, is noted. The advanced foreign practice and the possibility of applying some proposals of scientists-economists in the legislation of Uzbekistan are considered. It also provides recommendations on how to amend the country's legislation.