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in pari delicto
[ in par-ahy di-lik-toh ]
adverb
- in equal fault; equally culpable or blameworthy.
Word History and Origins
Origin of in pari delicto1
Example Sentences
It also said the administrator "stands in the shoes" of the company under the legal doctrine "in pari delicto," and could not prevail because MF Global had been an "active and voluntary participant" in the decision-making.
It also said the administrator "stands in the shoes" of the company under the legal doctrine "in pari delicto," and could not prevail because MF Global had been an "active and voluntary participant" in the decision-making.
Marrero on July 9 rejected PwC's argument that the MF Global administrator "stands in the shoes" of the company under the "in pari delicto" legal doctrine and cannot recover because Corzine and other officials were also at fault.
But Rakoff said the trustee could not prevail by invoking an exception to "in pari delicto" by claiming that the women were corporate insiders who breached their fiduciary duties.
Citing the doctrine of "in pari delicto," meaning "in equal fault," the appeals court concluded that Picard could not assert claims on behalf of Madoff's firm to recover for fraud that the firm itself caused.
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