pari passu

pari passu
'share and share alike', a term used in several contexts but especially in relation to the rights and ranking of creditors of an insolvent estate; it denotes an entitlement to payment of their debts in shares proportionate to their respective claims.

Collins dictionary of law. . 2001.


pari passu
England, Wales
"Equal in right of payment".
The pari passu principle means that all unsecured creditors in an administration or a liquidation must share equally any available assets of the company, or any proceeds from the sale of any of those assets, in proportion to the debts due to each creditor. It is one of the most fundamental principles of insolvency law.
+ pari passu
USA
Translates to "equally and without preference." Multiple loans, bonds or stock that rank equally in right of repayment in the event of bankruptcy. Pari passu creditors are paid pro rata in accordance with the amount of each creditor's claim.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


pari passu
(Latin: By an equal progress; equably; ratably; without preference.)
Used especially to describe creditors who, in marshalling assets, are entitled to receive out of the same fund without any precedence over each other.

Dictionary from West's Encyclopedia of American Law. 2005.


pari passu
[Latin, By an equal progress; equably; ratably; without preference.] Used especially to describe creditors who, in marshalling assets, are entitled to receive out of the same fund without any precedence over each other.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

Игры ⚽ Поможем написать курсовую

Look at other dictionaries:

  • Pari passu — is a Latin phrase that literally means with equal step [cite web last = Belinsky first = Natalya authorlink = coauthors = title = Glossary of Colloquialisms (Starting with P ) work = publisher = TranslationDirectory.com date = url =… …   Wikipedia

  • Pari passu — Saltar a navegación, búsqueda Pari passu es una frase en latín que literalmente significa con igual paso. [1] Lo que es a veces traducido como en igualdad de condiciones, al mismo nivel, con igual fuerza, o moviéndose en forma conjunta, y por… …   Wikipedia Español

  • pari passu — Latin phrase meaning ratably or without preference (SA Bankruptcy.com) Equally and without preference. This term is often used in bankruptcy proceedings where creditors are said to be paid pari passu, or each creditor is paid pro rata in… …   Glossary of Bankruptcy

  • Pari passu — (lat.), in gleichem Schritt, gleichmäßig …   Meyers Großes Konversations-Lexikon

  • Pari passu — (lat.), gleichen Schritts, gleichmäßig …   Kleines Konversations-Lexikon

  • pari passu — A la vez o en iguales proporciones. Diccionario Mosby Medicina, Enfermería y Ciencias de la Salud, Ediciones Hancourt, S.A. 1999 …   Diccionario médico

  • pari passu — Latin, lit. with elegant step …   Etymology dictionary

  • pari passu — [pä′rē pä′so͞o΄, pā′ri΄ pas′o͞o΄] [L] 1. at an equal pace 2. in an equal or like way 3. Law without preference or priority …   English World dictionary

  • pari passu — A lending term meaning at an equal rate or pace. American Banker Glossary Refers to the equal ranking of securities. Bloomberg Financial Dictionary Occurs when securities with different characteristics ( e.g. shares with different entitlements to …   Financial and business terms

  • Pari-passu — A Latin phrase meaning “equal footing” that describes situations where two or more assets, securities, creditors or obligations are equally managed without any display of preference. An example of pari passu, occurs during bankruptcy… …   Investment dictionary

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”