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.
The right of possession (jura possessionis) means that someone currently holds something in hand and this person may be the temporary keeper or the long-term owner of an object. This term is most commonly used in regards to property and is a land-backed asset.