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Open to resolving disputes; won't do one-on-one meetings: Lenders to Byju's

A group of lenders to educational technology (edtech) giant Byjus has told the firm that theyre open to negotiations with the company to resolve litigation and other disputes, according to people familiar with the matter. However, they have told Byjus that they will not engage in the firms proposal for one-on-one meetings, according to sources. Byjus recently filed a suit against US-based investment management firm Redwood to challenge the acceleration of the $1.2-billion Term Loan B (TLB) facil...
New York County New York United States State Of Delaware Byju Alpha Timothyr Pohl
Source: rediff.com

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Byju's files case in New York SC challenging loan acceleration

Edtech major Byjus on Tuesday said it has filed a complaint in the New York Supreme Court to challenge acceleration of the $1.2 billion Term Loan B (TLB). The company is also seeking the disqualification of Redwood, who contrary to the terms of TLB, purchased a significant portion of the loan while primarily trading in distressed debt. Byjus has had to take these measures following a series of predatory tactics by the lenders, led by Redwood, the company said in a statement.
United States New York Byju Alpha Timothyr Pohl Trust Company York Supreme Court
Source: rediff.com

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