bona fide (not comparable) 1  In good faith. 2  Genuine; not counterfeit.
What is a 'Debtor in Possession (DIP)' A debtor in possession (DIP) is a person or corporation who has filed for bankruptcy protection but still holds property that a creditor has a right to.  It is part of U.S. bankruptcy law and is the term used to describe a corporation that continues to do business while under Chapter 11 bankruptcy proceedings.
Debtor-Debtor is a person who owes money to the. company/business or a person/company whom the goods have. sold on credit. Creditor-Creditor is a person to whom company owes money or. a person from whom the goods have purchased on credit. Debtor is shown in Right side(Assets side) of Balance and.