This article critically evaluates the significance of the recent EU Preventive Restructuring Directive for small- and medium-sized enterprises (SMEs). Considering the prevalence of SMEs across European economies, it stands to reason that the policy objectives of the Directive were grounded in facilitating the accessibility of restructuring and rescue procedures for such enterprises. However, there is a risk that the very distinct considerations involved in SME restructuring cases could be disregarded by the approach espoused within the Directive. The article proceeds to set out the procedural aspects of the Directive in respect of their putative suitability for the needs of SMEs. Class formation, confirmation of restructuring plans and creditor cram-downs are given particular attention since the Directive expressly includes safeguards for SMEs within these features of the Directive. The article assesses whether the preventive restructuring procedures envisaged by the Directive can truly offer a paradigm for SME restructuring. Even though the Directive accords flexibility to EU Member States as to transposition of these measures into national law, are there more specialised steps which ought to be taken when efficiently addressing the restructuring needs of SMEs?

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与众不同：欧盟针对中小企业的预防性重组指令的相关性

本文批判性地评估了最近欧盟针对中小企业 (SME) 的预防性重组指令的重要性。考虑到中小企业在欧洲经济体中的普遍存在，该指令的政策目标基于促进此类企业的重组和救援程序的可及性是理所当然的。然而，存在一种风险，即该指令所支持的方法可能会忽视中小企业重组案例中所涉及的非常不同的考虑因素。文章接着就指令对中小企业需求的推定适用性阐述了指令的程序方面。班级形成，重组计划的确认和债权人的限制受到特别关注，因为该指令在指令的这些特征中明确包含了对中小企业的保障。本文评估了该指令所设想的预防性重组程序是否能够真正为中小企业重组提供范式。尽管指令在将这些措施转化为国家法律方面给予欧盟成员国灵活性，但在有效解决中小企业的重组需求时是否应该采取更专业的步骤？