An example of this strategy took place in 1994, when Rockefeller Center went bankrupt, apparently jeopardizing $1.3 billion worth of real estate. However, asset protection strategies ensured that none of this real estate was lost to creditors. Rockefeller Properties, two partnerships that acted as operating companies, owned the real estate. However, the real estate was encumbered by a lien, of approximately $1.3 billion, in favor of a corporation, Rockefeller Center Properties, which acted as the holding company.
This structure employed the use of two asset protection strategies: separate operating and holding entities, and ownership of the assets being vested in the operating entity, but with a lien of approximately equal value in favor of the holding entity, which meant the assets were not vulnerable to creditors.