Judge Says Byju’s Official Broke Duty to Lenders by Hiding Cash
A top official of Indian tech firm Byju’s violated his fiduciary duty to lenders by wrongly hiding $533 million from them, according to a US court ruling Friday, a win for creditors vying to collect on a defaulted $1.2 billion loan. Byju’s fraudulently transferred at least part of the money to a small hedge fund based in Miami to keep it out of lenders’ hands, US Bankruptcy Judge John Dorsey also ruled. The two rulings entitle lenders to collect a financial damages award from the company, with t...
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