Hiding or evading the seizure of pledged property in violation of the law, thereby avoiding its confiscation, and causing significant damage to the bank may result in criminal liability in accordance with the Criminal Code.
According to the decision of the civil court, a writ of execution to cover the loan debt of the debtor A.A. at the expense of the pledged property—a “Cobalt” vehicle—in favor of the bank was received by the Jizzakh regional office of the Compulsory Enforcement Bureau for execution.
However, despite being repeatedly warned, the debtor A.A. failed to pay the debt and concealed his pledged vehicle from seizure.
During the investigation, after the debtor was explained the legal consequences provided by law, the “Cobalt” vehicle was found in the territory of Jizzakh city and placed in the impound lot.
Now, this vehicle may be sold through auction. The proceeds will be directed to fulfill the debtor’s obligations to the bank.
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