Pari passu Pari

Pari passu Pari passu is a Latin phrase that literally means “with equal step.” This is sometimes translated as “equal,” “the same level,” “with equal force,” or “moving together, “and by extension,” fairly, “” an impartial and no preference. ” Bankrupt (bankruptcy of firms) use this expression with value equivalent to the “par conditio crorum”, ie to express that crors are “pari passu” which means they are all equal and that the distribution of capital be carried out without preference between them (ie, the payments will be pro rata).In the field of finance, this term refers to two or more loans, bonds, or series of preferred stock have equal rights to be paid or the same level of seniority. Commitment it acquires the issuer of a loan, materialized in bonds, not to provide assurance to prospective crors or more favorable terms without reaping the benefits thereof to the purchasers of that loan.