Neiman Marcus
Designated its MyTheresa subsidiaries as unrestricted in 2017, then in September 2018 moved them to a holding company owned by the non-guarantor parent, taking the e-commerce business beyond creditors' reach.
Discussed in Liability Management Exercises: Law and Practice at ¶¶ 2.91, 2.154, 2.158, 4.55, 4.63, 23.58–23.62, 23.149, 23.154.