diff --git a/platform/lang-impl/src/com/intellij/ide/PsiCopyPasteManager.java b/platform/lang-impl/src/com/intellij/ide/PsiCopyPasteManager.java
index 9dc36e68db58..a6f172647950 100644
--- a/platform/lang-impl/src/com/intellij/ide/PsiCopyPasteManager.java
+++ b/platform/lang-impl/src/com/intellij/ide/PsiCopyPasteManager.java
@@ -50,15 +50,18 @@ public class PsiCopyPasteManager {
     ApplicationManager.getApplication().getMessageBus().connect().subscribe(ProjectManager.TOPIC, new ProjectManagerListener() {
       @Override
       public void projectClosing(@NotNull Project project) {
-        if (myRecentData != null && myRecentData.getProject() == project) {
+        if (myRecentData != null && (myRecentData.isValid() || myRecentData.getProject() == project)) {
           myRecentData = null;
         }
 
         Transferable[] contents = myCopyPasteManager.getAllContents();
         for (int i = contents.length - 1; i >= 0; i--) {
           Transferable t = contents[i];
-          if (t instanceof MyTransferable && ((MyTransferable)t).myDataProxy.getProject() == project) {
-            myCopyPasteManager.removeContent(t);
+          if (t instanceof MyTransferable) {
+            MyData myData = ((MyTransferable)t).myDataProxy;
+            if (!myData.isValid() || myData.getProject() == project) {
+              myCopyPasteManager.removeContent(t);
+            }
           }
         }
       }
@@ -183,6 +186,10 @@ public class PsiCopyPasteManager {
       return myIsCopied;
     }
 
+    public boolean isValid() {
+      return myElements.length > 0 && myElements[0].isValid();
+    }
+
     @Nullable
     public Project getProject() {
       if (myElements == null || myElements.length == 0) {