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of <h1>Pari passu principle ensures equal treatment of creditors without preference in payment from same fund</h1> The term 'pari passu' is a legal principle meaning 'with equal step' or 'equally, without preference.' Legal dictionaries define it as proceeding by equal progress, particularly applicable to creditors who are entitled to receive payment from the same fund without precedence over each other. The concept ensures equal treatment and simultaneous progression in legal contexts, especially in asset marshalling and creditor rights scenarios. Courts have consistently interpreted this principle to mean that parties should proceed side by side at the same pace, maintaining equality in their legal standing and entitlements.
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