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 proceedings; when a verdict is reached, all creditors can be regarded equally, and will be repaid at the same time and at the same fractional amount as all other creditors. Treating all parties the same means they are pari-passu.

In finance, the term pari-passu refers to loans, bonds or classes of shares that have equal rights of payment, or equal seniority. In addition, secondary issues of shares that have equal rights with existing shares rank pari-passu. Wills and trusts can assign an in pari-passu distribution where all of the assets will be equally divided between the named parties.


Investment dictionary. . 2012.

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 — 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… …   Law dictionary

  • 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

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