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.

Look at other dictionaries:

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