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EXECUTORY CONTRACTS IN INSOLVENCY LAW

A Global Guide

JASON CHUAH, EUGENIO VACCARI

Executory Contracts in Insolvency Law offers a unique, comprehensive, and up-to-date transnational study of the topic, including an analysis of certain countries which have never previously been undertaken in English. Written by experts in the field, with extensive experience of both research and professional experience, this is a groundbreaking investigation into the philosophies and rationales behind the different policy choices adopted and implemented by a range of over 30 jurisdictions across the globe.
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Chapter 6: NATIONAL REPORT FOR BULGARIA

Georgi Valentinov Georgiev

Extract

This chapter looks at the treatment of executory contracts under Bulgarian insolvency law and at the debate for reforming the existing law. In particular, this chapter covers the treatment of executory contracts under general insolvency proceedings and the stabilization procedure. With reference to general insolvency proceedings, this chapter investigates the right of the administrator to terminate executory contracts and the creditors’ right to set-off their claims against the insolvent estate. With reference to the stabilization procedure, this chapter investigates not only the right to terminate executory contracts, but also the enforceability of contractual remedies agreed by the parties in solvent times. The chapter also includes a final section that discusses the options for reform of the existing law.

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