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The Redemption of State Securities: The Intersection of Civil and Budgetary Legislation in Russia

In: Review of Central and East European Law
Author: Olga Ishutina
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Online Publication Date:
01 Jan 2009
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Abstract

The author discusses the inter-relationship of Russia's civil and budgetary legislation in light of the rules and regulations governing obligations arising from state securities under conditions of a financial crisis. She argues that the redemption of state bonds (treasury bills) by exchanging them for other state debt instrument bonds does not conform to the conditions for debt novation. However, the author does not rule out the possibility for the state to make unilateral changes to the terms and conditions of a loan and, in addition, offers alternative means of resolving this (legal) issue.

Title:
The Redemption of State Securities: The Intersection of Civil and Budgetary Legislation in Russia
Article Type:
Research Article
DOI:
https://doi.org/10.1163/157303509X406331
Language:
English
Pages:
239–253
Keywords:
STATE DEBT; NOVATION; PRIVATE/PUBLIC INTEREST; BUDGETARY LEGISLATION; STATE SECURITIES; CIVIL LEGISLATION
In:
Review of Central and East European Law
In:
Volume 34: Issue 3
Publisher:
Brill | Nijhoff
E-ISSN:
1573-0352
Print ISSN:
0925-9880
Subjects:
Comparative Law, International Law, EU Law

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