Crystal Financial Provides Exit Credit Facility to True Religion

Choate represented Crystal Financial in connection with its exit asset-based credit facility to True Religion, the global denim and apparel brand. The company successfully emerged from its chapter 11 bankruptcy in mid-October under a court-approved plan of reorganization, which enables the company to reduce its operating costs and significantly lower its debt, while also providing enough liquidity to execute on its growth plans during the next several years.