A federal judge has taken steps to address the intricate bankruptcy situation involving a Byju’s unit by proposing not to arrest a hedge fund manager, provided he assists in locating a substantial missing sum. During a hearing in Wilmington, Delaware, U.S. Bankruptcy Judge John Dorsey agreed to retract an arrest warrant for William C. Morton, the founder of Camshaft Fund, if Morton helps uncover the whereabouts of $533 million.
According to court records, Byju’s invested those funds with Camshaft Fund last year. Subsequently, the money was moved from the fund to a UK lender, creating complexities in tracing the funds. This judicial decision comes amidst ongoing efforts to locate the missing amount, which lenders allege Byju’s attempted to conceal.
The complete proceedings and developments can be followed on Bloomberg Law.