In a significant legal ruling, the Delaware Supreme Court has determined that Indian edtech giant Byju’s defaulted on a $1.5 billion loan, paving the way for lenders to exercise their rights to recover assets and enforce repayment. The decision, issued on September 23, 2023, grants lenders the authority to take control of Byju’s assets in the United States, specifically Byju Alpha Inc., a…
In a recent ruling, the Delaware Bankruptcy Court has denied a plea from Glas Trust Company, representing US lenders, to block Byju’s settlement with the Board of Control for Cricket in India (BCCI). The settlement concerns a Rs 158-crore overdue payment related to a sponsorship deal.
Court Ruling
Judge Brendan Shannon of the Delaware Bankruptcy Court decided not to interfere in the legal…
