HOHAN Truck Put Up for Auction Due to Loan Default

Loan funds are investments provided by banks to entrepreneurs or citizens for targeted projects, expanding operations, and business development, and they must be repaid on time.

If loan funds are not repaid on time, banks are forced to apply to the courts. The courts, in turn, refer the case to the Bureau of Compulsory Enforcement to recover the debt.
 
For example, based on a decision by the Gulistan Interdistrict Economic Court, the Sirdaryo Regional Department of the Bureau carried out enforcement proceedings to recover a loan debt of 1.8 billion UZS from the debtor B.G. LLC in favor of the claimant Ipoteka Bank.

As a result of enforcement actions, the HOHAN truck belonging to the debtor LLC was seized and put up for auction with a starting price of 360 million UZS.

The proceeds from the sale will be used to cover the loan debt.