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US court declines to investigate Byju’s $500m fund transfer allegations
source link: https://nextbigwhat.com/us-court-declines-to-investigate-byjus-500m-fund-transfer-allegations/
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US court declines to investigate Byju’s $500m fund transfer allegations
- A Delaware court dismissed the request from Term Loan B lenders to investigate Byju’s suspect $500 million funds transfer.
- Byju’s countersued in the New York Supreme Court, denying default accusations and claiming lenders’ attempts to challenge their contractual rights.
- This news offers reprieve amidst Byju’s current issues including mass layoffs, board resignations, and auditor changes.
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