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.
An individual or company that owes debt to another individual or company (the creditor), as a result of borrowing or issuing bonds. also called debtor. â I was the obligor which meant that I owed money to the other person and had to pay it, or be thrown out. â.