Judge Locks Down Byju Entity’s IP In Ch. 11
A Delaware bankruptcy judge Tuesday voided transfers of an Apple App Store account linked to the insolvent U.S.-based financing arm of Indian education technology giant Byju’s, as the Chapter 11 trustee overseeing one of its debtor subsidiaries rang the alarm about “bad actors” trying to make off with the unit’s cash and intellectual property.
U.S. Bankruptcy Judge John T. Dorsey on Tuesday granted a motion from the Chapter 11 trustee for Epic! Creations to void attempts to transfer the ownership of Epic’s accounts on the App Store to Voizzit Technology Pvt. Ltd. and change the names of the debtor’s accounts on app and payment platforms — actions which put in jeopardy over $1 million of monthly revenue, the trustee’s counsel said.
The petitioning creditors are represented by David Dean, Justin R. Alberto, Seth Van Aalten, Sarah Carnes and Bryant P. Churbuck of Cole Schotz PC.
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As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.
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