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Valentinov Georgiev, Georgi --- "NATIONAL REPORT FOR BULGARIA" [2019] ELECD 868; in Chuah, Jason; Vaccari, Eugenio (eds), "Executory Contracts in Insolvency Law" (Edward Elgar Publishing, 2019) 119

Book Title: Executory Contracts in Insolvency Law

Editor(s): Chuah, Jason; Vaccari, Eugenio

Publisher: Edward Elgar Publishing

Section: Chapter 6

Section Title: NATIONAL REPORT FOR BULGARIA

Author(s): Valentinov Georgiev, Georgi

Number of pages: 20

Abstract/Description:

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.