Garage foreclosed for 1.2 billion soums debt

In the Jizzakh region, the property of a limited liability company that failed to repay its debt on time was confiscated. This was reported by the Regional Department of the Bureau.

According to the information, the court issued a writ of execution to collect 1.2 billion soums from LLC “L.E” in favor of the bank. The document was accepted for execution by the Department for Enforcement of Special Important Cases under the Department for Combating Economic Crimes.

During the enforcement process, all bank accounts and assets belonging to the debtor were frozen. Despite multiple official warnings to pay the debt voluntarily, the company’s representatives failed to comply.

Subsequently, as part of the enforcement actions, the pledged property of the debtor — a non-residential building (garage) located in Zafarobod district of Jizzakh region — was seized.

According to the Bureau, this property will now be put up for sale through an electronic online auction, and the proceeds will be used to cover the existing debt.

Officials emphasized that debt is a mutual responsibility. If a borrower fails to fulfill their obligations, their property may be confiscated to recover the debt. Therefore, citizens and companies are advised to take their financial commitments seriously.

Throughout this year, hundreds of debtor companies have had their properties sold through online auctions as part of similar enforcement actions. The main goal is to strengthen financial discipline between the state and private sectors and ensure economic stability.