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
Volume/Issue:
Volume 34: Issue 3
Article Type:
Research Article
DOI:
https://doi.org/10.1163/157303509X406331
Keywords:
STATE DEBT; NOVATION; PRIVATE/PUBLIC INTEREST; BUDGETARY LEGISLATION; STATE SECURITIES; CIVIL LEGISLATION
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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.

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

in Review of Central and East European Law
E-ISSN:
1573-0352
Print ISSN:
0925-9880
Publisher:
Brill | Nijhoff
Cover Review of Central and East European Law

Sections

Index Card

Page Count:
239–253
Subjects:
Comparative Law, International Law, EU Law, International Law
Copyright:
© 2009 Koninklijke Brill NV, Leiden, The Netherlands 2009

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