Tashkent, Uzbekistan (UzDaily.com) -- In order to further improve the system for satisfying claims secured by collateral of the Central Bank, the following procedures will be introduced from 1 January 2024:

- providing absolute advantage to creditors in satisfying their claims secured by collateral from the value of the pledged property - in the process of insolvency procedures;

- establishing a minimum price below which the pledged property cannot be sold at a repeat auction, in the amount of 80 percent of the starting price of the auction object;

At the same time, if the property is not sold at a repeat auction, the claimant is offered to keep this property at a price 25 percent lower than the starting price of the auction.

- prevention of delay in the sale of pledged property, which is subject to foreclosure, at public auction on the basis of a request from the mortgagor;

- abolition of the practice of ending enforcement proceedings by a state executor and lifting restrictions on the disposal of property in connection with the beginning of the process of voluntary liquidation of the debtor.