Byju’s Tries to Get $1.2 Billion Loan Default Ruling Tossed

A Delaware judge failed to consider a credit agreement’s exclusive forum selection clause when she ruled for lenders to Byju’s, contributing to what had once been one of India’s hottest tech startups declaring bankruptcy, the company’s attorney told the state’s highest court on Wednesday.

The lenders should have been forced to pursue their claims of a breach of Byju’s credit agreement in New York, said Joseph Cicero of Chipman Brown Cicero & Cole, representing Byju’s Alpha.

The company wants the Delaware Supreme Court to reverse a Chancery Court ruling that determined the lenders properly cited a default on a $1.2 ...