The "Devil's Dictionary" is a quick-reference guide for commercial lenders and other restructuring professionals. In this series, we highlight many of the buzz words found in the Dictionary and used in today's bankruptcy arena.
DIP: Acronym for debtor in possession. Pronounced by stating its initials—“D-I-P.”
DIP Financing: A loan to a debtor in its Chapter 11 case, usually immediately following the filing of the case under “emergency” circumstances.
How the lender controls the case.
Bankruptcy Code § 364. See also Roll-Up.
"The Devil's Dictionary" is an excellent reference tool that reflects the collective wisdom of its four authors, Brett Anders, Jim Bird, David Ferguson and Dan Flanigan, and digital editor, Christopher Ward, who have a combined total of more than 130 years working in the forefront of real estate and other commercial finance, loan enforcement, financial restructuring and bankruptcy law.
