Tag Archive: inso-103

US Bankruptcy Court recognised German administrator’s right to elect non-performance of executory contracts

The US Bankruptcy Court for the Eastern District of Virginia (Supplemental order of 19 Nov 2009, Case No. 09-14766-RGM) held that § 103 German Insolvency Code granting the insolvency administrator the right to elect non-performance of executory contracts should enjoy priority over the US rule for executory contracts in § 365 US Bankruptcy Code which grants the …

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