Executory Contracts in Insolvency Law

Dr Eugenio Vaccari, lecturer at the University of Essex, School of Law, has recently co-edited a book with Professor Jason Chuah, Head of Department at the City Law School at City, University of London. The book, Executory Contracts in Insolvency Law: A Global Guide is published by Edward Elgar.

Executory Contracts in Insolvency Law is the result of a research project that lasted for more than 2 years. The purpose of this project was to cover a gap on the treatment of executory contracts in insolvency in academic and professional literature.

On the academic side, few papers have so far investigated the principles that should govern the treatment of executory contracts in insolvency. Why and to what extent should insolvent companies be allowed to terminate or continue their contracts upon filing for a formal insolvency proceeding? Should the procedure, the purpose of the procedure or simply the nature of the business determine the outcome of the contract?

On the professional side, Executory Contracts in Insolvency Law aims at providing a comprehensive yet easily accessible guide on the treatment of these contracts in a larger number of jurisdictions than any other study conducted in the field to date. In an increasingly globalised world, practitioners may find that termination clauses in commercial contracts are governed by one law, while the main contract is subject to either English or New York law. A comprehensive outline of the main features of these laws is essential to provide timely and informed advice to the parties.

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 practical and theoretical knowledge of both research and professional experience, this is a ground-breaking investigation into the philosophies and rationales behind the different policy choices adopted and implemented by a range of over 30 jurisdictions across the globe.

With contributions from more than 40 insolvency law experts, this book provides extensive coverage of executory contracts, encompassing both developed and developing countries, and drawing on not only so-called common and civil law systems, but also, countries with hybrid systems of law. The book explores ipso facto clauses, improvements that could be made, as well as casting light upon procedural and tactical issues and considerations when attempting to address executory contracts in different jurisdictions.

Providing a globalised and comparative perspective on executory contracts in insolvency law, this book will be an invaluable tool for legal practitioners requiring a cross border perspective on the subject, as well as for academics and researchers pursuing a study of the topic. It will also benefit policy makers and institutions seeking to introduce insolvency law reforms in their home countries.

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