BYJU’S lenders accused of employing fake loan-default claims


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Image Credit: abplive

During court proceedings at the state court in Delaware, BYJU’S has accused the lenders of its $1.2 Bn term loan B (TLB) of creating bogus default claims as part of a scheme to gain control of the edtech giant. Per a Bloomberg report, the lawyer, Sheron Korpus, added that the distressed-debt lenders are ‘playing hardball’ to create leverage in negotiations for restructuring the loan.