To DIP, Or Not To DIP?

I'm confused. I hear all kinds of doom and gloom about how bankrupt companies can't find debtor-in-possession (DIP) financing. They'll be forced into Chapter 7 liquidation! Everybody panic! But then I see stories like this, where lenders insist, "By no means is the DIP market really dead." For example, Kevin Phillips of Bank of America says that putting new money into the DIP market is "exciting" at the moment, Dealscape reports. So what is it? DIP or no DIP? I asked a mid-market lender to clear things up. For starters, there are different approaches to DIP lending. There's defensive lending, which is when you're already exposed

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