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The pari passu principle and UK corporate insolvency law

A company normally goes insolvent when it cannot satisfy the debts it owes. Upon insolvency, the pari passu principle calls for equal and proportionate repayment of debt to creditors based on their pre-insolvency entitlements. This principle is often regarded as a fundamental and central feature of the law.
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Principles and Methods of Obscurantism

Ca-A Cancer Journal for Clinicians, 1970
exaly  

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