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English definition of “debtor-in-possession financing”

debtor-in-possession financing

noun [U]     (abbreviation DIP financing)
FINANCE in the US, a financial arrangement in which a company that cannot pay its debts is given a loan so that it can continue to own and control its own assets and continue trading: Debtor-in-possession financing is intended to give companies the time and resources they need to be successful in the future.
(Definition of debtor-in-possession financing noun from the Cambridge Business English Dictionary © Cambridge University Press)
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