Pari passu

Pari passu MEANING

The word "on equal footing" comes from the Latin phrase "pari passu," which literally translates to "with an equal step." For the purposes of insolvency, it incorporates the proportionality concept, and it is referenced to when indicating how creditors are to be handled in comparison to one another. The phrases "pari passu" and "pro-rata share" are sometimes mistaken with one another. A pari passu share, indicates that all obligations are of the same class and priority. A pro rata share indicates that each shareholder receives an equal amount for every share of an investment that they possess.

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