Abstract. The President signed the Law of the Republic of Uzbekistan “On Insolvency” dated April 12, 2022 No. 763. This Law consists of 14 chapters and 249 articles. The law will enter into force on April 13, 2022, and its last chapter will come into force on January 1, 2023. The law will regulate relations in the sphere of insolvency of legal entities and individuals, as well as individual entrepreneurs.