principle of equality among creditors / an analytical study in civil law

The principle of equality among creditors is deemed to be one of the most essential principles in the civil law, due to the axial role it plays in achieving justice and distributing the assets and property of the debtor on the creditors. The problem of the current study lies at the fact that Iraqi legislator in article 260 of the civil law, organized the matter of the general guarantee for the ordinary creditors. He as well established the principle of absolute and definite equality of all those creditors. However, this equality is marred by the imprecision, as he determined some exceptional cases that guarantee the preference and priority of some of those creditors. Moreover, the ordinary creditor may in specific conditions, occupy a privileged legal status in which he can obtain his debt without competition from the creditors and undermines it. This present research paper has been structured it in two sections, The first is titled as the concept of the principle of the equality among the creditors, Whereas the second one deals with the legal application for that principle and the exceptions on it. the study has suggested the article (260) to be amended as recommended, in addition to regulating and codifying the cases in which the creditor can gain his or her right by priority.