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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 19: NATIONAL REPORT FOR THE RUSSIAN FEDERATION

Dmitry Konstantinov

Extract

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.

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