Anastasia Beverly Hills, advised by Ropes & Gray and Lazard, has created two unrestricted subsidiary entities to which it has assigned the IP rights of its brand — its most valuable asset — among other assets, according to sources.

The move, announced unceremoniously to lenders in a 25 April memo entitled “IP Dropdown”, according to sources, is an aggressive approach to negotiations with lenders who have long been part of a co-op group represented by Milbank.

At the same time as this inflammatory missive to lenders was being planned, Anastasia Soare, the eponymous founder of the brow, lipstick, and other makeup products, embarked upon on a marketing blitz for her memoir entitled “Raising Brows: My Story of Building a Billion Dollar Beauty Empire”, with plans to release the book in October — two months after the term loan maturities.