J.Crew
Transferred a 72% interest in its US trademarks, valued at $250 million, through a non-loan-party subsidiary to unrestricted subsidiaries, using a trap door investment basket. The IP then supported new structurally senior debt. Gave its name to the J.Crew blocker.
Discussed in Liability Management Exercises: Law and Practice at ¶¶ 1.8, 2.35, 2.66, 2.91, 2.96, 2.102, 2.106, 2.110, 2.143, 2.153–2.156, 3.10, 4.55, 4.63, 5.68, 5.123, 6.10, 7.10, 7.13–7.18, 7.20, 7.25, 7.27, 7.95, 7.97–7.98, 10.63, 13.6, 13.22, 13.25, 13.44–13.49, 21.70, 21.72, 23.23–23.25.