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.
It may also give a troubled company a new start, albeit under strict conditions. In this case, debtor in possession financing refers to debt incurred while in bankruptcy, and exit financing is debt incurred upon emerging from reorganisation under bankruptcy law.