SINGAPORE–(BUSINESS WIRE)–Kroll Pte. Limited (“Kroll”) today announced that Mr. Cosimo Borrelli and Mr. Jason Aleksander Kardachi were appointed to safeguard the charged assets of Great Learning Education Pte. Ltd. (“Great Learning”) and Byju’s Pte. Ltd. (“BPL”). The appointment was made on behalf of secured creditors of BYJU’s Alpha Inc, as part of the secured lenders’ exercise of their security rights following defaults by BYJU’s Alpha Inc.
A primary focus of the appointment is to protect and preserve the assets and businesses owned by Great Learning (including its subsidiary, Northwest Education Pte. Ltd. (“Northwest Education”)) and BPL. The operations of Great Learning and Northwest Education are not impacted by the appointment and all courses and programs offered by these businesses continue as usual.
Kroll is working closely with the management of Great Learning and Northwest Education to ensure the continued delivery of high-quality learning experiences and is committed to the smooth operations and continued growth of their business. Mr. Mohan Lakhamraju (“Mohan”), Founder and Chief Executive Officer of Great Learning continues his leadership of the Great Learning business and management team.
Mohan said, “I am happy to see the Kroll team’s commitment towards Great Learning’s high quality education and continued growth and look forward to collaborating with them towards the realisation of our mission of enabling career success through transformative learning.”
Questions about the appointment relating to Great Learning or Northwest Education may be directed to the Kroll team at the email addresses below.
About Kroll
Kroll is the world’s premier provider of services and digital products related to valuation, governance, risk and transparency.
Cosimo Borrelli is Kroll’s global co-head of restructuring and Jason Kardachi leads the firm’s work in Singapore and South-East Asia.
Disclaimer:
This press release has been prepared by Kroll solely for informational purposes. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. Kroll shall not have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this press release or its contents. The information contained in this press release does not constitute investment advice.
Contacts
For the Steering Committee of Ad Hoc Term Loan Lenders
Nathaniel Garnick/Amanda Shpiner/Sam Fisher
Gasthalter & Co.
+1 (212) 257-4170
byjus-lenders@gasthalter.com
Kroll Pte. Limited
Cosimo Borrelli
cosimo.borrelli@kroll.com
+65 9824 4529
Jason Kardachi
jason.kardachi@kroll.com
+65 9101 2123
Ben Crilly
ben.crilly@kroll.com
+65 9452 5100
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