Mieniemuis
1 Answer
ROMOS
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.
http://www.investopedia.com/terms/p/pari-passu.asp
| 13 years ago. Rating: 5 | |
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