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Dmitry Konstantinov

This chapter investigates the treatment of executory contracts under Russian corporate insolvency law and the drivers behind the most recent reforms in the area. Russian insolvency law generally does not regulate executory contracts in insolvency. It only prohibits the execution of debtor’s monetary obligations other than those which have the potential to facilitate and maximize the distribution to the creditors. Nevertheless, insolvency practitioners in external control and liquidation have a limited right to reject a contract which is not profitable for the debtor. Apart from some particular exceptions, performance of other executory contracts is regulated by the non-insolvency law. With reference to reforms, the treatment of executory contracts in insolvency in Russia has drawn significantly from foreign statutes, primarily German insolvency law. Quite disappointingly, despite the contradictory and controversial treatment of executory contracts in insolvency, there is little debate on reforms aimed at changing the existing stratified and non-unitary discipline.