IP? Didn't JP Morgan take all their patents last year?
[1] https://www.gizmodo.com.au/2015/02/magic-leap-ripped-off-tho... [by Sean Hollister]
If I'm JP Morgan I'm sweating this sale process right now because if Magic Leap do default (eg say the sale process tanks and they burn through their remaining cash and default), the recovery on these patents is going to be difficult so JPM will take a writedown on the loan.
[1] https://regmedia.co.uk/2019/11/13/ml.pdf is the patent assignment if you want to see what got assigned
Apple has actually have a much bigger patent contention with Beijing University with them holding the lockdown portfolio on the microled, and they recently "tainted" themselves through business relationship with one of Beijing University subsidiaries.
It may look to the court, or at least a Chinese one, that they solicited samples from them, and very expensive at that, without stated purpose just to sneak away the tech.