IFLR is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2023

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

The hunt for pari passu

A new interpretation of the pari passu clause in cross-border debt says borrowers must pay creditors on a ratable basis. If correct, this would change the patterns of international finance. But this ratable- payment theory is a fallacy. Lee C Buchheit and Jeremiah S Pam explain why

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Take a Free Trial or Login