Abstract
This article develops a comparative framework for evaluating the effectiveness of insolvency systems through four interdependent outcome dimensions: duration of proceedings, procedural costs, creditor recovery, and preservation of economically viable businesses. Particular attention is paid to the World Bank Business Ready (B-READY) 2025 methodology, which separates the quality of insolvency regulation, institutional and operational infrastructure, and the time and cost of in-court liquidation and reorganization. Uzbekistan is used as the principal national case. According to its B-READY 2025 profile, in-court liquidation is characterized by a duration of 8 months and costs equal to 15 per cent of the company's market value, while in-court reorganization takes 14 months and costs 12 per cent. The article argues that such figures should not be interpreted as a self-contained ranking of insolvency effectiveness. A fast liquidation can destroy going-concern value, while a longer reorganization may be economically justified if it increases net recovery and preserves productive activity. The study proposes a seven-component performance dashboard combining procedural speed, cost, net creditor recovery, going-concern preservation, predictability, distributional outcomes and post-proceeding viability. It concludes with data-governance and reform proposals for Uzbekistan and other jurisdictions seeking evidence-based insolvency policy.
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