DEBTOR-IN-POSSESSION (DIP)
\dˈɛtəɹɪnpəzˈɛʃən dˈɪp], \dˈɛtəɹɪnpəzˈɛʃən dˈɪp], \d_ˈɛ_t_ə_ɹ_ɪ_n_p_ə_z_ˈɛ_ʃ_ə_n__ d_ˈɪ_p]\
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A firm filing for BANKRUPTCY protection and REORGANIZATION that is permitted to act as its own TRUSTEE. The DIP typically attempts to secure DIP FINANCING in order to continue its operations while preparing a reorganization plan for court approval.
By Henry Campbell Black
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Platidiam
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Nearby Words
- debtless
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