The principle of "protection of trust" and the return of state duty: Guarantees for entrepreneurs and citizens
If a person has trusted a document from a state body and fully fulfilled their obligations, this document will later become worthless.
The new law signed by the President of Uzbekistan introduces important principles aimed at strengthening the property and legal protection of citizens and entrepreneurs as part of judicial and legal reforms.
Some of these principles are as follows:
If a person has fully fulfilled his obligations under a document of a state body (for example, if he has fulfilled an investment obligation in an allocated land or building), this document cannot be canceled or changed later for trivial reasons. As an exception, a document can be canceled only if the person has not properly fulfilled his obligation or if there is a real threat to the public interest.
If the creditor's claim is not considered due to the initiation of insolvency (bankruptcy) proceedings against the debtor, the state duty paid by him in advance is fully refunded.
Now, honest investors and entrepreneurs will be protected from the risk of losing their property or land due to minor shortcomings after fulfilling their obligations. Also, entrepreneurs whose cases have not been considered in court will be prevented from losing money in vain and their financial resources will be protected.