★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★★Open research. Global perspectives.
editor@theamericanjournals.comPublisher Home ↗
Political Science Law OPEN ACCESS

Creditors’ Meeting Resolutions as Legal Facts in Insolvency Proceedings: Legal Nature and Grounds for Invalidation

Rakhmatjon Berdiyarov
Acting Associate Professor (PhD), Academy of Justice of the Republic of Uzbekistan
DOI Crossref DOI 10.37547/tajpslc/Volume08Issue04-23
tajpslc 2026
VOL. 8 / NO. 04 APRIL
FULL TEXT PP. 138-142
DOWNLOAD PDF

View all articles in this issue ↗

VOLUME 8
ISSUE 04
YEAR 2026
PAGES 138-142
RESEARCH OVERVIEW

Abstract

This article examines the legal nature of resolutions adopted by creditors’ meetings in insolvency proceedings and the civil-law mechanisms for challenging and declaring such resolutions invalid. Particular attention is paid to the doctrinal controversy concerning whether creditors’ meeting resolutions should be regarded as civil-law transactions, procedural acts, corporate acts, or independent legal facts. Based on an analysis of insolvency legislation and relevant scholarly approaches, the article argues that creditors’ meeting resolutions possess a dual legal nature: substantively, they affect civil rights, obligations, and property interests of the debtor and creditors, while procedurally, their adoption and implementation take place within insolvency proceedings and are subject to judicial supervision. The study also identifies procedural and substantive grounds that may justify invalidation of such resolutions, including violations of convening, quorum, notification, voting, competence, equality of creditors, and legitimate interests of participants. The article proposes recognizing meeting resolutions as an independent ground for the emergence of civil rights and obligations, establishing invalidation of meeting resolutions as a separate method of civil-law protection, and introducing a specific statutory provision regulating the grounds and procedure for challenging creditors’ meeting resolutions in insolvency cases.

RESEARCH TOPICS

Keywords

Insolvency creditors’ meeting meeting resolution

Downloads

Download data is not yet available.
SOURCES & SCHOLARSHIP

References

  1. Decree of the President of the Republic of Uzbekistan No. PF–78 of May 6, 2026, “On Measures to Further Improve the Insolvency Institution” // National Database of Legislation of the Republic of Uzbekistan (LexUZ). – May 7, 2026.
  2. Telyukina M.V. Procedure for declaring debtor’s transactions invalid in bankruptcy proceedings // Arbitration Practice. 2002. No. 1. pp. 19–22.
  3. Shaybakov S.V. Legal status of the meeting and committee of creditors in the system of corporate governance bodies // Education and Law. 2024. No. 3. pp. 373–375.
  4. Kutlimuratov F.K. Improvement of protection of creditors’ rights in the reorganization of commercial legal entities. Doctor of Science dissertation. Nukus, 2025. pp. 28–29.
  5. Sogoyan D.P. Creditors’ community in insolvency (bankruptcy) legal relations: experience of Russia and foreign countries // Problems of Economics and Legal Practice. 2025. No. 1. pp. 110–121.
  6. Odintsov S.V. Harmonization of cross-border bankruptcy regulation in EU countries // Proceedings of the International Scientific-Practical Conference in memory of Professor V.K. Puchinsky. Moscow: RUDN University, 2014. p. 109.
  7. Shershenevich G.F. Course of Commercial Law. Vol. 4. Trade Process. Bankruptcy Process. Moscow: Yurait Publishing, 2025. 453 p.
  8. Andreev V.K. Decisions of meetings // Civilist. 2013. No. 3. pp. 71–79; Degtyareva A. Amendments to the Civil Code: analysis of changes. Innovations on meeting decisions // Administrative Law. 2014. No. 2. pp. 45–49.
  9. Egorov A. Law and practice: from conflict to unity // EZh-Yurist. 2004. No. 3 (307). pp. 1–6.
  10. Bedzhashe L.K., Stepanov L.G. Legal nature of meeting resolutions // Theory and Practice of Social Development. 2014. No. 15. pp. 133–136.
  11. Shumilova V.S. Legal nature of meeting resolutions // Young Scientist. 2016. No. 20 (124). pp. 596–601; Fomicheva N.V. Creditors’ meeting resolutions in bankruptcy cases as grounds for the emergence of civil rights and obligations // Civil Law: Law and Process. 2019. No. 1. pp. 27–34.
  12. Krasheninnikov E.A., Baigusheva Yu.V. Unilateral and multilateral transactions // Bulletin of the Supreme Arbitration Court of the Russian Federation. 2012. No. 7. pp. 30–31.
  13. Kozlova N.V. Legal personality of a legal entity. Moscow: Statut, 2005. pp. 203–205.
  14. Kharitonova Yu.S. Invalidity of meeting resolutions and transactions: points of intersection // Laws of Russia: Experience, Analysis, Practice. 2014. No. 5. pp. 24–26.
  15. Ganizhev A.Ya. Legal nature and types of decisions of general meetings of business companies // Journal of Russian Law. 2012. No. 8. p. 116.
  16. Sukhanova A.A. Civil Law. In 4 vols. Vol. 1. General Part. 3rd ed. Moscow, 2006. 720 p.
  17. Rodionova O.M. On the legal nature of meeting resolutions and their invalidity in German and Russian civil law // Bulletin of Civil Law. 2012. No. 5. pp. 66–93.
  18. Brusko B.S. Protection of creditors’ rights and legitimate interests in insolvency law. Abstract of Candidate of Juridical Sciences dissertation. Moscow, 2004. p. 26; Rai Mantili P.E. (2021). Postponement of Debt Payment Obligations (PKPU) Related to Debt Settlement in Bankruptcy. Journal of Actual Justice, 6.
  19. Imomov N.F., Mehmonov Q.M. Prospects for improving civil legislation (Civil Code of the Republic of Uzbekistan, Part One, Section I (Articles 1–163)) (analytical report). Tashkent: TSUL, 2020. p. 70.
  20. Popondopulo V.F. (ed.) Commentary on the Federal Law “On Insolvency (Bankruptcy)”. Moscow: Prospekt, 2016. 1197 p.
  21. Ilistinova M.Kh., Odintsov S.V. Features of challenging creditors’ meeting resolutions // Property Relations in the Russian Federation. 2017. No. 9 (192). pp. 38–41.
CONTINUE EXPLORING

Most read articles by the same author(s)

Explore other published research by the authors of this article.