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.
A person to whom a debt is owed by a debtor. A creditor who is the beneficiary of a contract made between the debtor and a third person. The first meeting of creditors of a debtor, required for the purpose of allowing the claims of creditors, questioning the debtor under oath, and electing a trustee in bankruptcy.