A federal judge moved to untangle the complex bankruptcy case of a Byju’s unit by offering to rule out the arrest of a Florida hedge fund manager if he helps locate $533 million that the Indian tech company allegedly tried to hide, Bloomberg News reported. Bankruptcy Judge John Dorsey, during a court hearing yesterday in Wilmington, Del., agreed to drop an arrest order for William C. Morton, the founder of Camshaft Fund. Byju’s invested $533 million of loan proceeds with the fund last year, according to court records. The money was later moved to a U.K.

U.S. hedge fund manager Elliott Investment Management has offered support to troubled Canadian miner Nevada Copper Corp. after the company filed for chapter 11 protection, Bloomberg News reported. Before Monday’s bankruptcy filing, Nevada Copper had attracted two bidders though it failed to close a deal with either one, Chief Financial Officer Gregory J. Martin said in a court filing. To help pay for the chapter 11 restructuring case, the company agreed to borrow as much as $60 million from Elliott affiliates.

Moody’s Ratings downgraded Allied Properties Real Estate to junk status on Tuesday, citing the Canadian office landlord’s high debt levels, as well as weakening occupancy rates that will weigh on its ability to meet its obligations, Bloomberg News reported. The bond grader cut the company’s senior unsecured rating to Ba1, the highest junk rating, from Baa3, the lowest investment-grade level. The outlook remains negative. Allied Properties is a real estate investment trust that specializes in turning old downtown industrial and warehouse space into offices for industries including technology.

Apollo Global Management Inc. and other investors are seeking to raise as much as $500 million in an initial public offering of Grupo Aeromexico SAB, the Mexican carrier that emerged from bankruptcy protection more than two years ago. The alternative asset manager, which owns about 22% of Aeromexico, and other selling shareholders are aiming to raise about $400 million to $500 million in the Mexico City-based carrier’s listing, said the people, who asked not to be identified discussing confidential information.

U.S. cities aiming to convert half-filled office towers into residential buildings are looking north of the border to Calgary, Alberta, which has one of the most aggressive programs in North America to promote these conversions, the Wall Street Journal reported. American officials have been studying the Calgary program, and some cities have even sent delegations to visit the western Canadian city. Early returns show the promise—and limitations—of conversion plans.

Legislation seeking to block holdout bond investors from using New York courts to sue defaulted foreign governments stalled in the state assembly, Bloomberg News reported. New York lawmakers ended the legislative session early Saturday without voting on the so-called champerty doctrine. The bill would have prohibited “litigious holdout investors” from purchasing emerging-market government bonds governed under New York laws for the sole purpose of bringing defaulted nations to court.

A former Allianz fund manager pleaded guilty on Friday over his role in a meltdown of private investment funds sparked by the pandemic that caused an estimated $7 billion of investor losses, Reuters reported. Gregoire Tournant admitted to two counts of investment adviser fraud at a hearing before Chief Judge Laura Taylor Swain of the federal court in Manhattan. He faces up to 10 years in prison at his Oct. 16 sentencing. Tournant also agreed to give up $17.5 million in ill-gotten gains, including bonuses that were inflated by his fraud.

Canada’s unemployment rate rose for the third time in four months, but rising wages and a strong US labor report prompted some economists to express caution on the pace of Bank of Canada rate cuts, Bloomberg News reported. The country added 26,700 positions in May and the jobless rate rose 0.1 percentage points to 6.2%, Statistics Canada reported, roughly in line with expectations in a Bloomberg survey of economists. The unemployment rate has risen 1.1 percentage points since April last year.

Venezuela’s opposition is ramping up lobbying efforts in Washington, trying to persuade the Biden administration to intervene in the court-ordered sale of Citgo Petroleum Corp.’s parent company in the U.S., Bloomberg News reported. The company is the South American nation’s most important foreign asset and its shares are due to be auctioned by July 15. The opposition fears Nicolas Maduro could blame them for Citgo’s loss ahead of crucial presidential elections set for the end of next month.

A group of investors in Credit Suisse Group AG bonds that got wiped out when UBS Group AG rescued the bank in a Swiss government-brokered deal are suing the European country in a U.S. court, Bloomberg News reported. The lawsuit, filed Thursday in federal court in New York, seeks more than $82 million plus interest and is the latest legal fight taking place in the US and Europe related to the bond write-down. Holders of Credit Suisse’s additional tier 1 bonds effectively saw about $17 billion of their notes written down to zero after the sale.