The “Pari Passu” Paradox: Navigating ‘Equality Among Unequals’ in the IBC Framework

The Latin locution ‘Pari Passu’ translates to “ranking equally” and the principle acts as a guiding light during the resolution or liquidation process under the IBC. Pari Passu is calculated discrimination amongst inter-class creditors and equality amongst those creditors who fall within the same hierarchy, class & legal standing.