view

(NOT) FOLLOWING THE LEADER IN THE NEWEST PERSONAL INSOLVENCY LAWS IN UZBEKISTAN AND KAZAKHSTAN

(NOT) FOLLOWING THE LEADER IN THE NEWEST PERSONAL INSOLVENCY LAWS IN UZBEKISTAN AND KAZAKHSTAN

Click here to read the article

Abstract: This article introduces the new personal insolvency laws in Uzbekistan and Kazakhstan, both effective in early 2023. It situates these new regimes at the tail end of a decade-long worldwide movement to address the rising household financial hardship through various forms of personal insolvency (bankruptcy) legislation. In particular, it examines the structure and statutory requirements of these two new Central Asian schemes against the backdrop of the law that inspired them both, the 2015 Russian personal insolvency law and its recent outcomes. All three systems are assessed against recommendations for international best practices for personal insolvency legislation. While the Uzbek law stands up to scrutiny quite well, being little more than a refinement of the well-structured Russian model, the Kazakh law critically deviates from the recommended path in ways that threaten to undermine the entire effort to bring relief and reinvigoration to consumers and individual entrepreneurs in an era of rising financial hardship and economic and social exclusion.

Keywords: personal bankruptcy; personal insolvency; small business bankruptcy; post-Soviet law; post-COVID-19 recovery; formalism; no-asset debtors; best practices; mandatory settlement negotiation

Click here to read the article

You may also like

Maria Kendrick

THE FUTURE OF EU DIFFERENTIATED INTEGRATION: THE TAX MICROCOSM
Ian S Forrester

THE COURTS OF THE EUROPEAN UNION: RECONCILING DIVERSITY AND COMMUNITY
Jason J Kilborn

View PDF file

View PDF file

View PDF file

View PDF file

Login/Register

Submissions

JICL welcomes full length articles (generally not exceeding 13,000 words inclusive of footnotes), shorter contributions in the form of notes and comments (generally not exceeding 8,000 words inclusive of footnotes) and book review articles of not more than 6,000 words.

We accept contributions for consideration on an exclusive submission basis. When submitting an article please certify that it is an unpublished article (that is, it has not been previously published in substantially similar form or with substantially similar content) and that it is not under consideration by any other journal.

To facilitate anonymous review, please give the names of authors and their short biographical information and acknowledgments in a separate page.

Authors retain copyright in the words used, but upon submission of material for publication, grant Sweet & Maxwell a licence to publish the submission in print and/or digital formats. Sweet & Maxwell retains copyright in the design, format and layout of all material published in JICL.

Once submissions are published, authors are entitled to one copy of the issue, 10 offprint copies and a PDF version of the submission.

Authors who send articles published in JICL to other publishers or media must include a reference to the publication of the article by JICL and Sweet & Maxwell.

Contributions and book reviews should be submitted in Microsoft Word format by way of email attachment to Professor Anton Cooray at Anton.cooray.1@city.ac.uk.

Style Guide

Authors should follow the OSCOLA citation system (http://www.law.ox.ac.uk/publications/oscola.php), except that we prefer authors to use indenting sparingly.

JICL uses the following heading levels: Main headings are in bold and preceded by a Roman numeral; second-level headings are in bold and italics and preceded by an uppercase alphabet; third-level headings are preceded by an Arabic numeral; and fourth-level headings are in italics and preceded by a lowercase alphabet.