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What is Pari-Passu?

“Pari-passu” is a Latin phrase meaning “equal footing,” typically in reference to treatment of creditors or beneficiaries when assets are distributed.

Some examples of pari-passu in practice would be bankruptcy proceedings when credits are given ‘equal access’ to assets of the company, or in a probate hearing when assets are divided equally amongst beneficiaries.

Keywords: bankruptcy, assets, estate planning, creditors, probate court, pari-passu,