- Pari passu
Pari passu is a
Latinphrase that literally means "with equal step" [cite web
last = Belinsky
first = Natalya
title = Glossary of Colloquialisms (Starting with "P")
publisher = TranslationDirectory.com
url = http://www.translationdirectory.com/glossaries/glossary014_p.htm
accessdate = 2008-02-13] . It is sometimes translated as "hand-in-hand," "with equal force," or "moving together"Fact|date=February 2008, and by extension, "fairly", "without partiality".
law, this term is commonly used as legal jargon. Black's Law Dictionary(8th ed. 2004) defines "pari passu" as "proportionally; at an equal pace; without preference".
finance, this term refers to two or more loans, bonds or series of preferred stockhaving equal rights of payment or level of seniority. [ [http://www.investopedia.com/terms/p/pari-passu.asp Investopedia.com] ] For asset managementfirms, the term denotes an equal allotment of trades to strategically identical funds or managed accounts.
This term is also often used in
bankruptcyproceedings where creditorsare said to be paid "pari passu", or each creditor is paid " pro rata" in accordance with the amount of his claim. Here its meaning is 'equally and without preference'.
*List of Latin Phrases
* [http://www.fmlc.org/papers/fmlc79mar_2005.pdf FINANCIAL MARKETS LAW COMMITTEE ISSUE 79 — PARI PASSU CLAUSES]
* [http://www.law.georgetown.edu/international/documents/Pam.pdf THE "PARI PASSU" CLAUSE IN SOVEREIGN DEBT INSTRUMENTS]
* [http://home.pacific.net.sg/~chanpal/article12.htm SECTION 334 AND THE PARI PASSU PRINCIPLE]
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Pari passu — Saltar a navegación, búsqueda Pari passu es una frase en latín que literalmente significa con igual paso.  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
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… … Investment dictionary