Many jurisdictions around the world are seeking to develop an effective mechanism for rescuing financially distressed but viable businesses. In the UK a number of different mechanisms exist which can be used to restructure distressed companies. The purpose of this paper is to assess the debt restructuring mechanisms currently available to companies in English law and to consider the proposed reform of the UK regime, announced by the Government in August 2018. It is argued that reform is needed, and that in general the proposals to introduce a restructuring moratorium and a restructuring plan which includes a cross class cramdown are to be welcomed. However, these reforms will need to be introduced with care in order to ensure that an appropriate balance is maintained between the interests of the company and the interests of the creditors and that, ultimately, the UK’s regime remains fit for purpose for the future.

中文翻译：

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英国债务重组

世界上许多司法管辖区都在寻求开发一种有效的机制来挽救财务困难但可行的企业。在英国，存在许多不同的机制可以用来重组陷入困境的公司。本文的目的是评估英国法律中公司目前可用的债务重组机制，并考虑政府于2018年8月宣布的英国政权拟议改革。有人认为，这是必要的，而且总体而言欢迎提出暂停重组的提议和包括跨阶级的镇压的重组计划。但是，必须谨慎进行这些改革，以确保在公司利益和债权人利益之间保持适当的平衡，并且