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.

【译文】偿还借款和解协议就是某一债权人或债权人集团通过接受债务人支付的部分款项的方式达成协议或妥协。

【解释】composition意为a legal agreement to pay a sum in lieu of a larger debt or other obligation，可译为（偿还部分借款以勾销全部债务的）“和解协议”或“和解偿还”。

另外，composition 很容易与arrangement 混淆。两者均有和解性“债务清偿协议”和“部分偿还方式了结债务的协议”的含义。arrangement 有两个意思：（1）等同于composition；（2）等同于voluntary arrangement（自愿协议）。

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.〔译文：一种通过支付部分款项使得债务人能够与任何债权人达成协议（既可以私下达成协议也可以通过法院达成协议），以解除他的/她的债务的方法，该方法作为破产的变通办法。通常通过还款协议计划的方式达成此种目的，其涉及运用债务人资产以及收入按比例支付给所有债权人。例如，还款协议计划可以规定债权人将获得其所应得的每一英镑的20便士。有时该还款计划也称为composition（部分还款协议）。一旦各方就还款协议计划达成一致，将起草还款契约，该契约必须在7日内向贸易与工业部登记。〕

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.〔译文：自愿偿债协议：《1986年破产法》所规定的一种程序，依据该协议一家公司可以同其债权人达成协议，以还清债务并管理其事务，其目的是帮助该公司解决财政困难。该协议可由债权人、依据遗产管理令行事的遗产管理人或公司资产清算人提出。必须任命适格的破产执业者监督该协议。该执业者可以是遗产管理人或公司资产清算人，在此种情况下必须召开公司和债权人之间的会议，以考虑该协议。所提出的协议可以在会议上变更或批准，但一旦得以批准，将对所有知悉该会议的人产生约束力。为使该协议生效法院可以发布必要的命令。如果该协议不符合司法程序（irregularity），则可能在法院受到质疑。该立法的此种目的就是协助公司无需经历清算程序就能解决其财务问题。〕