London Fog Lets Go Of Trademark

Law360 (August 21, 2006, 12:00 AM EDT) -- Still selling off its assets, bankrupt rainwear maker London Fog Group Inc. has unloaded its famed trademark, with Iconix Brand Group Inc. snapping up the recognizable brand for $30.5 million in cash and $7 million in stock.

The deal was announced by Iconix on Monday, with the sale expected to close on Aug. 28.

The cash is expected to be funded through an increase in the company's asset-backed note, said the New York-based business.

Iconix also intends to enter a license agreement with outwear maker Herman...
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