Uzbekistan is set to create a Chamber of Judicial Managers, based on the existing Association. A presidential decree to this effect was signed on May 6, reports Podrobno.uz correspondent.

The chamber will unite all judicial managers into a single self-governing system. It will open branches in Karakalpakstan, regions, and Tashkent. Judicial managers are individuals appointed by courts to conduct bankruptcy proceedings.

Starting July 1, the chamber will have the right to train such specialists, involving the Institute for Retraining of Legal Personnel and other educational institutions.

The chamber can decide to terminate a manager's membership and must then apply to the court to relieve them of their duties. If a manager performs poorly, the court may reduce their remuneration based on a creditors' meeting decision.

Payment for judicial managers is now split into two parts: a fixed base part and a performance-based part tied to indicators set in the rehabilitation plan. Candidates for rehabilitation may be selected through the chamber's special electronic system if creditors or the Agency do not propose their own candidate.

Earlier, it was reported that Uzbekistan would establish an Agency for Insolvency Affairs under the Ministry of Justice, with regional branches.

Source: podrobno.uz