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.
8 [T]he debt is the property of the creditor, and because it is, the law seeks to. subject it ...to the payment of his creditors. If it can be done in any other way. than by process against and jurisdiction of his debtor, that way does not occur to us..