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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
An unredacted copy sourced by The Morning Context lists a series of defaults by the edtech company of the covenants it agreed to when taking a $1.2 billion term loan.
The Morning Context has from an online legal research platform sourced a non-redacted copy of a lawsuit filed against Byju’s by its lenders in a Delaware court.
The document—all reporting of which has relied on a redacted version so far—has important details and establishes a timeline of events. It mentions how many times the borrowers (i.e. various Byju’s entities) have accepted an event of default, agreed to make amends and done nothing. After a careful reading, we realized it is important in the public interest to talk about the assertions made by the lenders. Because it is not about just …
