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Lezcano Navarro, Jose Maria --- "NATIONAL REPORT FOR PANAMA" [2019] ELECD 880; in Chuah, Jason; Vaccari, Eugenio (eds), "Executory Contracts in Insolvency Law" (Edward Elgar Publishing, 2019) 349

Book Title: Executory Contracts in Insolvency Law

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

Publisher: Edward Elgar Publishing

Section: Chapter 18

Section Title: NATIONAL REPORT FOR PANAMA

Author(s): Lezcano Navarro, José Maria

Number of pages: 18

Abstract/Description:

This chapter describes the treatment of executory contracts under Panamanian corporate insolvency law and the effects of recent reforms on their treatment. In regard to executory contracts the insolvency law (LA LEY ) is cautious as it restricts the possibility to amend the terms and conditions of ongoing contracts. Nevertheless, specific rules apply to some contracts, such as trusts and contracts with ROT clauses. This chapter investigates the treatment of these and other contracts, as well as clauses negotiated by the parties in solvent times (such as ipso facto clauses). Finally, it discusses recent changes in the LA LEY and options for reform


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