Pari Passu: Canada Debt .ca defines Pari Passu

Bankruptcy Term Pari Passu

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Canada Debt has the definition to the bankruptcy and debt term Pari Passu. Finding answers to terms such as Pari Passu can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Pari Passu in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Pari Passu' is used as follows:

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 accordance with the amount of his claim.