第28解

composition

【英文】Composition，an agreement or compromise by which a creditor or group of creditors accepts partial payment from a debtor.

【譯文】償還借款和解協議就是某一債權人或債權人集團通過接受債務人支付的部分款項的方式達成協議或妥協。

【解釋】composition意為a legal agreement to pay a sum in lieu of a larger debt or other obligation，可譯為（償還部分借款以勾銷全部債務的）“和解協議”或“和解償還”。

另外，composition 很容易與arrangement 混淆。兩者均有和解性“債務清償協議”和“部分償還方式了結債務的協議”的含義。arrangement 有兩個意思：（1）等同于composition；（2）等同于voluntary arrangement（自愿協議）。

再如：

1.Arrangement is a method of enabling a debtor to enter into an agreement with any creditors（either privately or through the courts）to discharge his or her debts by partial payment，as an alternative to bankruptcy.This is generally achieved by a scheme of arrangement，which involves applying the assets and income of the debtor in proportionate payment to the creditors.For instance，a scheme of arrangement may stipulate that the creditors will receive 20 pence for every pound that is owned to them.This is sometimes also known as composition. Once a scheme of arrangement has been agreed a deed of arrangement is drawn up，which must be registered with the Department of Trade and Industry within seven days.〔譯文：一種通過支付部分款項使得債務人能夠與任何債權人達成協議（既可以私下達成協議也可以通過法院達成協議），以解除他的/她的債務的方法，該方法作為破產的變通辦法。通常通過還款協議計劃的方式達成此種目的，其涉及運用債務人資產以及收入按比例支付給所有債權人。例如，還款協議計劃可以規定債權人將獲得其所應得的每一英鎊的20便士。有時該還款計劃也稱為composition（部分還款協議）。一旦各方就還款協議計劃達成一致，將起草還款契約，該契約必須在7日內向貿易與工業部登記。〕

2.Voluntary arrangement：a procedure provided for by the Insolvency Act （1986），in which a company may come to an arrangement with its creditors to pay off its debts and to manage its affairs so that it resolves its financial difficulties.This arrangement may be proposed by the directors，an administrator acting under an administration order，or a liquidator.A qualified insolvency practitioner must be appointed to supervise the arrangement.This practitioner may be the administrator or liquidator，in which case a meeting of the company and its creditors must be called to consider the arrangement.The proposals may be modified or approved at this meeting but，once approved，they bind all those who had notice of the meeting.The court may make the necessary orders to bring the arrangement into effect.The arrangement may be challenged in court in the case of any irregularity.This aim of this legislation is to assist the company to solve its financial problems without the need for a winding-up.〔譯文：自愿償債協議：《1986年破產法》所規定的一種程序，依據該協議一家公司可以同其債權人達成協議，以還清債務并管理其事務，其目的是幫助該公司解決財政困難。該協議可由債權人、依據遺產管理令行事的遺產管理人或公司資產清算人提出。必須任命適格的破產執業者監督該協議。該執業者可以是遺產管理人或公司資產清算人，在此種情況下必須召開公司和債權人之間的會議，以考慮該協議。所提出的協議可以在會議上變更或批準，但一旦得以批準，將對所有知悉該會議的人產生約束力。為使該協議生效法院可以發布必要的命令。如果該協議不符合司法程序（irregularity），則可能在法院受到質疑。該立法的此種目的就是協助公司無需經歷清算程序就能解決其財務問題。〕