Byju’s U.S. Judge Rejects Effort to Stop Payment to India Cricket

A U.S. judge refused to block a debt payment designed to free Byju’s from an insolvency case in India, telling American lenders to take their complaints about the transaction to a court in the home country of the educational tech firm, Bloomberg News reported. Bankruptcy Judge Brendan Shannon rejected a lender request to block Riju Ravindran, brother of Byju’s founder, from paying more than $19 million to India’s governing board for cricket. A deal to clear the debt enabled Byju’s to win dismissal of an insolvency case in front of a judicial tribunal in India.
India
United States
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U.K. Retailer Mountain Warehouse Offers $5M Stalking-Horse Bid for Eastern Mountain Sports

With an offer of $5 million, U.K.-based outdoor and sports gear retailer Mountain Warehouse has emerged as the stalking horse bidder for Eastern Mountain Sports’ intellectual property. The bankruptcy auction ends by Aug. 30, when the deal is scheduled to close, per court documents, RetailDive.com reported. After that date, EMS will close any inventoried stores until the deal is complete, and it would be up to Mountain Warehouse to reopen them. If EMS accepts a higher bid, Mountain Warehouse is entitled to a $150,000 break-up fee, according to court filings.
United Kingdom
United States
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Bank of Canada Focused on Perils of Cooling Labor Market in July Rate-Cut Decision: Minutes

Bank of Canada officials worried about the risk of a yearslong slump in consumer spending amid signs of labor-market weakness, according to a summary of their deliberations leading up to a July rate cut, the Wall Street Journal reported. The Bank of Canada delivered a second straight quarter-point cut in July, taking its policy rate to 4.5%, and signaled more reductions were in the offing given that economic slack, or spare capacity, has increased. Gov.
Canada
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