Dictionary

  • Pari passu principle

    The English interpretation of the pari passu rule is, ‘on an equal footing, proportionately’. The pari passu principle is a fundamental feature of insolvency law where the assets of a company in insolvency are equally distributed between creditors. The pari passu rule applies to creditors who do not have a secured interest in the company‚Äôs property beyond any other creditor.

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