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.

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.

A group of Latam Airlines Group SA shareholders raised $456 million in an initial public offering of American depositary shares, Bloomberg News reported. The shareholders in the Santiago-based airline sold 19 million ADS on Tuesday for $24 each, according to a statement. Each ADS represents 2,000 of Latam’s common shares, which trade on the Chilean Stock Exchange. The sellers are Sixth Street Partners, Strategic Value Partners, Olympus Peak, Monarch Funds, Värde Funds and Marathon Fund, the statement shows.

U.S. lawyers for units of the troubled Indian tech firm Byju’s want to quit defending their clients in a bankruptcy dispute, blaming “an irreparable breakdown” with the companies and a board member accused of lying in court to help hide $533 million from disgruntled lenders, Bloomberg News reported. In an unusual move, two law firms representing Riju Ravindran, brother of Byju’s founder, filed papers Friday in federal court in Wilmington, Delaware, claiming their clients have failed to cooperate in their own defense. Lawyers representing Byju’s ally William C.

A subsidiary of Spanish highway operator Abertis is considering borrowing $424 million to fund capital projects for four Puerto Rico toll roads, Bloomberg News reported. The Public Finance Authority, a Wisconsin-based issuer, approved the bond sale for Puerto Rico Toll Roads LLC, at a June 26th board meeting. PFA would loan the proceeds it borrows to Puerto Rico Toll Roads, which is part of Metropistas, an Abertis subsidiary that operates numerous toll roads and one bridge in Puerto Rico.

A solar panel maker in Georgia that has booked $230 million in federal tax credits stands to collect hundreds of millions more as it pursues plans to create the first end-to-end solar manufacturing chain in the US, easing reliance on China and related concerns about the use of forced labor, Bloomberg News reported. But at least through the end of this year, the Qcells solar plant, which South Korea’s Hanwha Solutions Corp. opened in Dalton, Georgia, in 2019 and almost doubled in capacity last year, is making panels with base components from China.

The International Monetary Fund said Thursday that the US is running deficits that are too big and is weighed down by too much debt, and it warned of dangers from increasingly aggressive trade policies, Bloomberg News reported. While calling the world’s largest economy “robust, dynamic and adaptable,” the fund leveled unusually harsh criticism toward the US, its biggest shareholder. It also slightly downgraded its estimate for growth this year to 2.6%, down 0.1 percentage point from its April forecast.

The head of the Securities and Exchange Commission is encouraging the UK and others to shorten the settlement time for currency trading to better align their markets with those in Asia and North America, Bloomberg News reported. The UK is debating a transition to next-day settlement, known as T+1, for securities transactions, with its Treasury calling for the shift by the end of 2027. But SEC Chair Gary Gensler is nudging the UK to go bigger by adding more asset classes for shorter settlement. The US, Canada, Mexico and other countries already pressed ahead.

An Ontario court has approved a sales process and stalking-horse bid for Red Lobster Canada, which is operating under court protection from creditors, CBC.ca reported. The move comes after a U.S. court approved the sales process for the company which launched chapter 11 bankruptcy proceedings last month. Court filings made on June 11 say the steps are meant to "preserve" Red Lobster's business in Canada and the employment of the company's 2,000 workers stationed at 27 restaurants across the country.